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

MercadoLibre, Inc. (NASDAQ:MELIGet Rating) has received an average rating of “Buy” from the fifteen brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $1,617.82.

Several research analysts have recently issued reports on MELI shares. Stifel Nicolaus decreased their price target on MercadoLibre from $1,600.00 to $1,400.00 and set a “buy” rating for the company in a research note on Wednesday, February 23rd. KGI Securities started coverage on MercadoLibre in a report on Monday. They set an “outperform” rating for the company. Credit Suisse Group reduced their price objective on MercadoLibre from $1,685.00 to $1,440.00 in a research note on Monday, May 2nd. Susquehanna Bancshares lowered their price objective on MercadoLibre from $1,990.00 to $1,750.00 and set a “positive” rating on the stock in a report on Wednesday, February 23rd. Finally, TheStreet raised MercadoLibre from a “d+” rating to a “c-” rating in a report on Friday, May 6th.

Shares of MELI opened at $824.68 on Wednesday. MercadoLibre has a 12 month low of $640.00 and a 12 month high of $1,970.13. The company has a market cap of $41.55 billion, a P/E ratio of 224.71 and a beta of 1.58. The stock has a fifty day moving average price of $948.77 and a 200 day moving average price of $1,065.75. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.40 and a quick ratio of 1.36.

MercadoLibre (NASDAQ:MELIGet Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.36). MercadoLibre had a return on equity of 21.93% and a net margin of 2.30%. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the previous year, the company posted $0.31 EPS. The company’s revenue for the quarter was up 63.1% compared to the same quarter last year. As a group, research analysts anticipate that MercadoLibre will post 6.59 earnings per share for the current year.

In other MercadoLibre news, CAO Marcelo Melamud purchased 55 shares of the stock in a transaction on Monday, March 14th. The shares were purchased at an average price of $881.82 per share, with a total value of $48,500.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP La Serna Juan Martin De purchased 50 shares of the stock in a transaction on Friday, March 11th. The shares were acquired at an average cost of $931.00 per share, for a total transaction of $46,550.00. The disclosure for this purchase can be found here. Corporate insiders own 0.27% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Harbor Investment Advisory LLC boosted its stake in shares of MercadoLibre by 10.6% during the fourth quarter. Harbor Investment Advisory LLC now owns 261 shares of the company’s stock valued at $352,000 after purchasing an additional 25 shares in the last quarter. ProShare Advisors LLC lifted its stake in shares of MercadoLibre by 53.1% in the fourth quarter. ProShare Advisors LLC now owns 92,787 shares of the company’s stock worth $125,114,000 after acquiring an additional 32,165 shares during the period. Acorn Financial Advisory Services Inc. ADV lifted its stake in shares of MercadoLibre by 6.9% in the fourth quarter. Acorn Financial Advisory Services Inc. ADV now owns 339 shares of the company’s stock worth $457,000 after acquiring an additional 22 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in shares of MercadoLibre by 108.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 225 shares of the company’s stock worth $303,000 after acquiring an additional 117 shares during the period. Finally, Bogart Wealth LLC lifted its stake in shares of MercadoLibre by 35.3% in the fourth quarter. Bogart Wealth LLC now owns 2,003 shares of the company’s stock worth $2,701,000 after acquiring an additional 523 shares during the period. 79.61% of the stock is currently owned by institutional investors and hedge funds.

About MercadoLibre (Get Rating)

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; and Mercado Pago FinTech, 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.

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Analyst Recommendations for MercadoLibre (NASDAQ:MELI)

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