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

MercadoLibre (NASDAQ:MELIFree Report) had its price objective upped by Barclays from $2,100.00 to $2,500.00 in a report published on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also recently commented on MELI. Bank of America increased their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a buy rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. lowered MercadoLibre from an overweight rating to a neutral rating and set a $2,400.00 target price for the company. in a research report on Wednesday. Susquehanna upped their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a positive rating in a research report on Wednesday, August 28th. Raymond James initiated coverage on shares of MercadoLibre in a report on Friday, September 27th. They issued an outperform rating and a $2,350.00 price objective for the company. Finally, The Goldman Sachs Group increased their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a buy rating in a report on Thursday, August 8th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, MercadoLibre currently has an average rating of Moderate Buy and an average target price of $2,246.07.

Get Our Latest Research Report on MercadoLibre

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,960.00 on Wednesday. The business has a 50 day moving average price of $1,975.39 and a two-hundred day moving average price of $1,726.57. MercadoLibre has a fifty-two week low of $1,141.04 and a fifty-two week high of $2,161.73. The firm has a market cap of $99.37 billion, a PE ratio of 87.70, a price-to-earnings-growth ratio of 1.34 and a beta of 1.61. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67.

MercadoLibre (NASDAQ:MELIGet Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share 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 business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter last year, the company earned $5.16 earnings per share. The business’s quarterly revenue was up 41.5% compared to the same quarter last year. Sell-side analysts expect that MercadoLibre will post 35.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

Several large investors have recently made changes to their positions in MELI. Migdal Insurance & Financial Holdings Ltd. grew its holdings in MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after buying an additional 16 shares in the last quarter. First PREMIER Bank acquired a new position in MercadoLibre during the 1st quarter worth $27,000. Financial Connections Group Inc. bought a new position in shares of MercadoLibre in the second quarter worth $36,000. Scarborough Advisors LLC acquired a new position in shares of MercadoLibre during the fourth quarter valued at $36,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of MercadoLibre during the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

About MercadoLibre

(Get Free Report)

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.

Recommended Stories

Analyst Recommendations for MercadoLibre (NASDAQ:MELI)

Receive News & Ratings for MercadoLibre Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MercadoLibre and related companies with MarketBeat.com's FREE daily email newsletter.