MercadoLibre (NASDAQ:MELI) PT Raised to $1,245.00 at BTIG Research

MercadoLibre (NASDAQ:MELIGet Rating) had its price objective lifted by BTIG Research from $1,130.00 to $1,245.00 in a note issued to investors on Friday, The Fly reports. The firm presently has a “buy” rating on the stock. BTIG Research’s target price suggests a potential upside of 14.97% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Credit Suisse Group dropped their price objective on shares of MercadoLibre from $1,470.00 to $1,400.00 and set an “outperform” rating on the stock in a report on Monday, October 31st. Citigroup boosted their price objective on shares of MercadoLibre from $1,050.00 to $1,100.00 in a report on Friday, December 23rd. Jefferies Financial Group dropped their price objective on shares of MercadoLibre from $990.00 to $970.00 and set a “hold” rating on the stock in a report on Thursday, October 6th. Finally, StockNews.com assumed coverage on shares of MercadoLibre in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,291.50.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $1,082.92 on Friday. The company has a market capitalization of $54.46 billion, a price-to-earnings ratio of 201.66 and a beta of 1.53. MercadoLibre has a 52 week low of $600.68 and a 52 week high of $1,275.82. The company has a quick ratio of 1.31, a current ratio of 1.34 and a debt-to-equity ratio of 1.68. The firm has a 50 day moving average of $908.65 and a 200 day moving average of $873.05.

MercadoLibre (NASDAQ:MELIGet Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.25. MercadoLibre had a net margin of 2.80% and a return on equity of 17.11%. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same period in the previous year, the company earned $1.92 earnings per share. The business’s revenue for the quarter was up 41.6% on a year-over-year basis. On average, sell-side analysts predict that MercadoLibre will post 8.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Baron Silver Stevens Financial Advisors LLC acquired a new stake in MercadoLibre in the 3rd quarter valued at about $456,000. Amalgamated Bank raised its holdings in MercadoLibre by 93.8% in the 3rd quarter. Amalgamated Bank now owns 31 shares of the company’s stock valued at $26,000 after acquiring an additional 15 shares during the last quarter. FinTrust Capital Advisors LLC raised its holdings in MercadoLibre by 120.0% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 33 shares of the company’s stock valued at $25,000 after acquiring an additional 18 shares during the last quarter. Huntington National Bank grew its stake in shares of MercadoLibre by 45.8% in the 3rd quarter. Huntington National Bank now owns 35 shares of the company’s stock valued at $29,000 after buying an additional 11 shares during the period. Finally, Atlas Capital Advisors LLC grew its stake in shares of MercadoLibre by 414.3% in the 3rd quarter. Atlas Capital Advisors LLC now owns 36 shares of the company’s stock valued at $30,000 after buying an additional 29 shares during the period. Institutional investors and hedge funds own 80.49% of the company’s stock.

About MercadoLibre

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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 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.

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Analyst Recommendations for MercadoLibre (NASDAQ:MELI)

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