MercadoLibre (NASDAQ:MELI) Receives “Outperform” Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of MercadoLibre (NASDAQ:MELI) in a report released on Friday, Benzinga reports. Wedbush currently has a $1,800.00 target price on the stock.

Several other research firms have also recently issued reports on MELI. UBS Group cut their target price on MercadoLibre from $1,900.00 to $1,800.00 and set a buy rating for the company in a research note on Wednesday, April 17th. Susquehanna raised their target price on MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a positive rating in a research note on Friday, February 23rd. StockNews.com cut MercadoLibre from a buy rating to a hold rating in a research note on Thursday, February 29th. Citigroup dropped their price objective on MercadoLibre from $1,990.00 to $1,940.00 and set a buy rating for the company in a research note on Wednesday, March 27th. Finally, JPMorgan Chase & Co. lifted their price objective on MercadoLibre from $2,000.00 to $2,150.00 and gave the company an overweight rating in a research note on Tuesday, February 27th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $1,805.00.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $1,653.85 on Friday. MercadoLibre has a one year low of $1,063.02 and a one year high of $1,825.00. The company has a market cap of $83.85 billion, a price-to-earnings ratio of 74.00, a PEG ratio of 1.09 and a beta of 1.45. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27. The business’s 50 day moving average price is $1,500.17 and its 200 day moving average price is $1,545.49.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.64 by $0.14. The company had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $3.84 billion. MercadoLibre had a return on equity of 42.04% and a net margin of 7.17%. The firm’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same quarter last year, the firm earned $3.97 earnings per share. On average, research analysts predict that MercadoLibre will post 34.46 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. lifted its holdings in MercadoLibre by 99.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 53,554 shares of the company’s stock worth $67,900,000 after buying an additional 26,679 shares during the last quarter. Townsquare Capital LLC lifted its holdings in MercadoLibre by 0.9% during the 3rd quarter. Townsquare Capital LLC now owns 1,549 shares of the company’s stock worth $1,964,000 after buying an additional 14 shares during the last quarter. California Public Employees Retirement System lifted its holdings in MercadoLibre by 1.5% during the 3rd quarter. California Public Employees Retirement System now owns 89,312 shares of the company’s stock worth $113,237,000 after buying an additional 1,277 shares during the last quarter. Vanguard Group Inc. lifted its holdings in MercadoLibre by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 178,815 shares of the company’s stock worth $226,716,000 after buying an additional 4,065 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in MercadoLibre by 112,333.8% during the 4th quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock worth $229,703,000 after buying an additional 146,034 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

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.