MercadoLibre (NASDAQ:MELI) Receives Outperform Rating from Wedbush

Wedbush reissued their outperform rating on shares of MercadoLibre (NASDAQ:MELI) in a research report sent to investors on Thursday,RTT News reports. They currently have a $2,200.00 target price on the stock, up from their prior target price of $2,000.00.

Other research analysts also recently issued reports about the stock. Morgan Stanley upped their target price on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Bank of America increased their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Finally, The Goldman Sachs Group increased their price objective on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $2,309.67.

MercadoLibre Trading Up 5.5 %

MercadoLibre stock traded up $97.96 during trading on Thursday, reaching $1,872.01. The company had a trading volume of 1,326,326 shares, compared to its average volume of 362,278. MercadoLibre has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The stock’s 50 day moving average price is $2,055.08 and its two-hundred day moving average price is $1,819.36. The firm has a market capitalization of $94.91 billion, a price-to-earnings ratio of 64.49, a PEG ratio of 1.26 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.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.27 by ($3.44). MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The business had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.25 billion. As a group, equities analysts expect that MercadoLibre will post 37.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MercadoLibre

Large investors have recently bought and sold shares of the stock. Migdal Insurance & Financial Holdings Ltd. increased its stake in MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after buying an additional 16 shares during the period. Optimum Investment Advisors boosted its position in shares of MercadoLibre by 750.0% during the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares in the last quarter. Financial Connections Group Inc. bought a new position in shares of MercadoLibre during the 2nd quarter valued at about $36,000. Legacy Bridge LLC boosted its position in shares of MercadoLibre by 53.3% during the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after purchasing an additional 8 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of MercadoLibre during the second quarter worth approximately $43,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

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.