Benchmark Reaffirms Buy Rating for MercadoLibre (NASDAQ:MELI)

MercadoLibre (NASDAQ:MELI)‘s stock had its “buy” rating reaffirmed by investment analysts at Benchmark in a research report issued on Tuesday, Marketbeat Ratings reports. They presently have a $2,875.00 target price on the stock. Benchmark’s price target would suggest a potential upside of 37.22% from the stock’s current price.

A number of other equities research analysts also recently commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of MercadoLibre in a research report on Wednesday, October 8th. Barclays reduced their price target on MercadoLibre from $3,000.00 to $2,800.00 and set an “overweight” rating for the company in a report on Tuesday. Susquehanna dropped their price objective on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a report on Monday, October 13th. JPMorgan Chase & Co. decreased their target price on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating on the stock in a research report on Friday, October 3rd. Finally, Cantor Fitzgerald upped their price target on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2,799.12.

MercadoLibre Stock Down 2.2%

MELI opened at $2,095.21 on Tuesday. MercadoLibre has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The business has a 50 day moving average price of $2,323.69 and a two-hundred day moving average price of $2,351.01. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The company has a market cap of $106.23 billion, a PE ratio of 51.75, a P/E/G ratio of 1.45 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The company had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.57 billion. During the same quarter last year, the business posted $10.48 earnings per share. The company’s revenue for the quarter was up 33.8% compared to the same quarter last year. As a group, research analysts anticipate that MercadoLibre will post 43.96 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MELI. Key Financial Inc acquired a new position in MercadoLibre in the first quarter valued at $25,000. GW&K Investment Management LLC purchased a new stake in MercadoLibre in the 1st quarter valued at about $25,000. Close Asset Management Ltd increased its stake in shares of MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after acquiring an additional 11 shares during the last quarter. Brooklyn Investment Group lifted its holdings in shares of MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after acquiring an additional 13 shares during the period. Finally, Twin Tree Management LP acquired a new stake in shares of MercadoLibre in the first quarter worth approximately $29,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

About MercadoLibre

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.