MercadoLibre, Inc. (NASDAQ:MELI) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have earned an average rating of “Moderate Buy” from the eighteen research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $2,255.3333.

A number of research firms have commented on MELI. JPMorgan Chase & Co. decreased their price objective on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Cantor Fitzgerald decreased their price objective on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. UBS Group cut their target price on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. The Goldman Sachs Group set a $2,100.00 price target on shares of MercadoLibre in a report on Wednesday, May 13th. Finally, Citigroup cut shares of MercadoLibre from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $2,200.00 to $1,950.00 in a report on Wednesday, May 13th.

MercadoLibre Stock Performance

MercadoLibre stock opened at $1,635.15 on Monday. The company has a market cap of $82.90 billion, a PE ratio of 43.16, a P/E/G ratio of 1.01 and a beta of 1.36. The company has a fifty day moving average price of $1,706.94 and a two-hundred day moving average price of $1,858.47. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. MercadoLibre has a 12 month low of $1,495.00 and a 12 month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). The business had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The business’s revenue for the quarter was up 49.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.74 EPS. Research analysts expect that MercadoLibre will post 40.97 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Alejandro Nicolas Aguzin purchased 600 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were bought at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the purchase, the director owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On MercadoLibre

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Laurel Wealth Advisors LLC bought a new stake in shares of MercadoLibre during the 4th quarter worth about $26,000. Transamerica Financial Advisors LLC purchased a new position in shares of MercadoLibre during the 4th quarter valued at $26,000. Purpose Unlimited Inc. purchased a new position in shares of MercadoLibre during the 4th quarter valued at $28,000. Darwin Wealth Management LLC bought a new position in shares of MercadoLibre during the 2nd quarter worth about $29,000. Finally, Curio Wealth LLC bought a new position in shares of MercadoLibre during the 4th quarter worth about $30,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Company Profile

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.