MercadoLibre (NASDAQ:MELI) PT Raised to $2,500.00

MercadoLibre (NASDAQ:MELI) had its price target raised by Morgan Stanley from $2,175.00 to $2,500.00 in a report released on Friday, Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also issued reports on the company. New Street Research lowered MercadoLibre from a buy rating to a neutral rating in a report on Friday, May 24th. JPMorgan Chase & Co. increased their target price on shares of MercadoLibre from $2,150.00 to $2,400.00 and gave the stock an overweight rating in a report on Tuesday, August 6th. Citigroup lifted their price target on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the company a buy rating in a report on Thursday, August 15th. Barclays increased their price objective on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the stock an overweight rating in a research note on Tuesday, August 6th. Finally, Cantor Fitzgerald started coverage on shares of MercadoLibre in a research note on Thursday, September 5th. They set an overweight rating and a $2,530.00 target price on the stock. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, MercadoLibre presently has a consensus rating of Moderate Buy and a consensus target price of $2,207.31.

MercadoLibre Trading Down 0.3 %

Shares of NASDAQ:MELI opened at $2,103.75 on Friday. MercadoLibre has a 52-week low of $1,141.04 and a 52-week high of $2,157.64. The stock has a market capitalization of $106.65 billion, a price-to-earnings ratio of 94.13, a PEG ratio of 1.33 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The stock’s 50-day simple moving average is $1,899.17 and its two-hundred day simple moving average is $1,692.71.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter last year, the firm posted $5.16 earnings per share. The firm’s revenue was up 41.5% compared to the same quarter last year. Analysts expect that MercadoLibre will post 35.22 EPS for the current year.

Institutional Trading of MercadoLibre

Several hedge funds have recently modified their holdings of the company. O Dell Group LLC raised its stake in MercadoLibre by 2.1% during the first quarter. O Dell Group LLC now owns 294 shares of the company’s stock valued at $445,000 after purchasing an additional 6 shares in the last quarter. Belpointe Asset Management LLC lifted its holdings in shares of MercadoLibre by 1.0% in the 2nd quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock valued at $1,016,000 after acquiring an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in MercadoLibre by 0.4% in the second quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock worth $2,419,000 after acquiring an additional 6 shares in the last quarter. Evolutionary Tree Capital Management LLC increased its stake in MercadoLibre by 0.3% during the second quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock worth $3,403,000 after acquiring an additional 6 shares during the last quarter. Finally, Hilltop National Bank raised its position in MercadoLibre by 14.3% during the second quarter. Hilltop National Bank now owns 56 shares of the company’s stock valued at $92,000 after purchasing an additional 7 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Company Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.