HSBC upgraded shares of Mercadolibre (NASDAQ:MELI) from a hold rating to a buy rating in a research note published on Monday morning, BenzingaRatingsTable reports. HSBC currently has $800.00 price target on the stock, up from their prior price target of $575.00.
A number of other analysts have also commented on MELI. ValuEngine upgraded Mercadolibre from a buy rating to a strong-buy rating in a research report on Wednesday, September 4th. Cowen set a $651.00 price objective on Mercadolibre and gave the stock a hold rating in a research report on Monday, August 12th. Barclays lifted their price objective on Mercadolibre from $615.00 to $730.00 and gave the stock an overweight rating in a research report on Tuesday, July 16th. Citigroup upgraded Mercadolibre from a neutral rating to a buy rating and lifted their price objective for the stock from $609.00 to $729.00 in a research report on Thursday, August 8th. Finally, UBS Group set a $730.00 price objective on Mercadolibre and gave the stock a buy rating in a research report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $665.69.
Shares of NASDAQ:MELI opened at $560.88 on Monday. Mercadolibre has a twelve month low of $257.52 and a twelve month high of $698.98. The firm has a market cap of $27.54 billion, a PE ratio of -684.00 and a beta of 1.71. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.53 and a current ratio of 2.54. The business has a fifty day moving average of $615.85 and a 200-day moving average of $564.68.
Mercadolibre (NASDAQ:MELI) last announced its earnings results on Wednesday, August 7th. The company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.03. The company had revenue of $545.24 million during the quarter, compared to analyst estimates of $507.68 million. Mercadolibre had a return on equity of 1.24% and a net margin of 0.87%. The firm’s quarterly revenue was up 62.6% compared to the same quarter last year. During the same period last year, the company posted ($0.25) earnings per share. On average, analysts anticipate that Mercadolibre will post 0.58 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of MELI. CENTRAL TRUST Co lifted its holdings in shares of Mercadolibre by 62.5% during the 2nd quarter. CENTRAL TRUST Co now owns 52 shares of the company’s stock valued at $33,000 after purchasing an additional 20 shares in the last quarter. Perigon Wealth Management LLC lifted its holdings in shares of Mercadolibre by 2.6% during the 2nd quarter. Perigon Wealth Management LLC now owns 794 shares of the company’s stock valued at $486,000 after purchasing an additional 20 shares in the last quarter. Stephens Inc. AR lifted its holdings in shares of Mercadolibre by 1.0% during the 1st quarter. Stephens Inc. AR now owns 2,228 shares of the company’s stock valued at $1,131,000 after purchasing an additional 21 shares in the last quarter. First Allied Advisory Services Inc. lifted its holdings in shares of Mercadolibre by 2.5% during the 1st quarter. First Allied Advisory Services Inc. now owns 982 shares of the company’s stock valued at $512,000 after purchasing an additional 24 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of Mercadolibre by 13.5% during the 1st quarter. Rockefeller Capital Management L.P. now owns 202 shares of the company’s stock valued at $103,000 after purchasing an additional 24 shares in the last quarter. Institutional investors own 83.69% of the company’s stock.
Mercadolibre Company Profile
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.
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