MercadoLibre, Inc. (NASDAQ:MELI) Given Consensus Rating of “Buy” by Analysts

MercadoLibre, Inc. (NASDAQ:MELI) has earned a consensus rating of “Buy” from the sixteen ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, thirteen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $2,464.67.

MELI has been the topic of several research reports. Barclays lifted their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price on the stock in a report on Tuesday, January 21st. Morgan Stanley reduced their target price on MercadoLibre from $2,650.00 to $2,560.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Benchmark initiated coverage on MercadoLibre in a report on Tuesday, April 15th. They issued a “buy” rating and a $2,500.00 target price on the stock. Finally, Cantor Fitzgerald reduced their target price on MercadoLibre from $3,000.00 to $2,400.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $2,280.86 on Wednesday. The stock’s 50-day simple moving average is $2,056.42 and its 200-day simple moving average is $1,968.17. MercadoLibre has a 52 week low of $1,427.95 and a 52 week high of $2,374.54. The company has a market capitalization of $115.63 billion, a price-to-earnings ratio of 60.50, a PEG ratio of 1.12 and a beta of 1.62. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The business had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. As a group, analysts expect that MercadoLibre will post 43.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. 1620 Investment Advisors Inc. lifted its holdings in shares of MercadoLibre by 2.5% during the fourth quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company’s stock worth $346,000 after purchasing an additional 5 shares during the period. Texas Yale Capital Corp. lifted its holdings in shares of MercadoLibre by 0.3% during the fourth quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company’s stock worth $2,779,000 after purchasing an additional 5 shares during the period. Meiji Yasuda Life Insurance Co lifted its holdings in shares of MercadoLibre by 0.5% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company’s stock worth $1,699,000 after purchasing an additional 5 shares during the period. Formidable Asset Management LLC lifted its holdings in shares of MercadoLibre by 3.2% during the fourth quarter. Formidable Asset Management LLC now owns 160 shares of the company’s stock worth $272,000 after purchasing an additional 5 shares during the period. Finally, Revolve Wealth Partners LLC raised its position in MercadoLibre by 4.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company’s stock valued at $201,000 after acquiring an additional 5 shares in the last quarter. Institutional investors 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.