Analysts Set MercadoLibre, Inc. (NASDAQ:MELI) Price Target at $2,301.67

MercadoLibre, Inc. (NASDAQ:MELI) has been given an average rating of “Moderate Buy” by the seventeen brokerages that are covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $2,301.67.

Several research analysts recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $2,530.00 target price on shares of MercadoLibre in a research report on Monday, October 7th. Raymond James assumed coverage on MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price on the stock. Redburn Atlantic assumed coverage on MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price on the stock. Bank of America lifted their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Finally, Susquehanna lifted their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th.

Institutional Trading of MercadoLibre

Several hedge funds have recently made changes to their positions in MELI. Wealth Enhancement Advisory Services LLC raised its stake in shares of MercadoLibre by 19.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,482 shares of the company’s stock valued at $3,753,000 after buying an additional 396 shares during the period. Claro Advisors LLC raised its stake in shares of MercadoLibre by 6.5% during the 1st quarter. Claro Advisors LLC now owns 197 shares of the company’s stock valued at $298,000 after purchasing an additional 12 shares during the period. Norden Group LLC bought a new stake in shares of MercadoLibre during the 1st quarter valued at $4,693,000. Kovack Advisors Inc. raised its stake in shares of MercadoLibre by 1.0% during the 1st quarter. Kovack Advisors Inc. now owns 1,931 shares of the company’s stock valued at $2,919,000 after purchasing an additional 19 shares during the period. Finally, HB Wealth Management LLC raised its stake in shares of MercadoLibre by 28.3% during the 1st quarter. HB Wealth Management LLC now owns 231 shares of the company’s stock valued at $349,000 after purchasing an additional 51 shares during the period. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Trading Up 0.9 %

Shares of MercadoLibre stock opened at $2,054.90 on Wednesday. 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 has a 52 week low of $1,310.31 and a 52 week high of $2,161.73. The stock has a 50 day moving average price of $2,050.38 and a two-hundred day moving average price of $1,807.21. The stock has a market capitalization of $104.18 billion, a PE ratio of 74.26, a price-to-earnings-growth ratio of 1.24 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter last year, the firm posted $5.16 earnings per share. The company’s revenue for the quarter was up 41.5% compared to the same quarter last year. As a group, equities analysts anticipate that MercadoLibre will post 37.7 earnings per share for the current fiscal year.

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.