MercadoLibre’s (MELI) “Buy” Rating Reiterated at BTIG Research

BTIG Research reiterated their buy rating on shares of MercadoLibre (NASDAQ:MELI) in a research note released on Thursday morning,Benzinga reports. BTIG Research currently has a $2,150.00 price objective on the stock.

Several other research firms have also recently commented on MELI. Benchmark cut their price target on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Citigroup raised their price objective on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. UBS Group dropped their price objective on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Raymond James Financial set a $2,000.00 target price on MercadoLibre in a research report on Friday, May 8th. Finally, Barclays reduced their target price on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,272.00.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,978.36 on Thursday. MercadoLibre has a 12 month low of $1,495.00 and a 12 month high of $2,548.50. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The firm has a market capitalization of $100.30 billion, a P/E ratio of 53.80, a P/E/G ratio of 1.36 and a beta of 1.31. The company’s fifty day moving average price is $1,859.43 and its two-hundred day moving average price is $1,770.98.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, beating analysts’ consensus estimates of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The company had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.79 billion. During the same period in the prior year, the company posted $10.31 EPS. The firm’s revenue for the quarter was up 49.8% on a year-over-year basis. On average, research analysts anticipate that MercadoLibre will post 39.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

Institutional investors and hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System boosted its stake in MercadoLibre by 176,119.7% in the second quarter. California State Teachers Retirement System now owns 119,862,892 shares of the company’s stock valued at $203,454,074,000 after acquiring an additional 119,794,873 shares during the period. BlackRock Inc. bought a new stake in shares of MercadoLibre in the 2nd quarter worth approximately $2,246,015,000. Jupiter Topco LLC acquired a new position in MercadoLibre during the 2nd quarter valued at approximately $917,123,000. Linonia Partnership LP boosted its position in MercadoLibre by 325.1% during the 2nd quarter. Linonia Partnership LP now owns 553,788 shares of the company’s stock valued at $939,994,000 after purchasing an additional 423,527 shares during the period. Finally, Capital Research Global Investors grew its stake in MercadoLibre by 22.5% during the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after buying an additional 408,939 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.