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

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have received an average recommendation of “Buy” from the seventeen analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation, fourteen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $2,415.94.

Several analysts recently commented on MELI shares. Wedbush dropped their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Benchmark began coverage on MercadoLibre in a research note on Tuesday, April 15th. They issued a “buy” rating and a $2,500.00 price target for the company. Susquehanna increased their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. boosted their price objective on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Finally, Cantor Fitzgerald decreased their target price on MercadoLibre from $3,000.00 to $2,400.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th.

MercadoLibre Price Performance

Shares of MELI opened at $2,128.33 on Wednesday. The business’s 50-day moving average is $2,045.33 and its two-hundred day moving average is $1,961.90. The company has a market capitalization of $107.90 billion, a P/E ratio of 56.45, a P/E/G ratio of 1.12 and a beta of 1.62. MercadoLibre has a fifty-two week low of $1,341.00 and a fifty-two week high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $5.94 billion. Research analysts predict that MercadoLibre will post 43.96 earnings per share for the current year.

Hedge Funds Weigh In On MercadoLibre

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MELI. Pursue Wealth Partners LLC purchased a new position in shares of MercadoLibre during the 1st quarter worth $201,000. Moser Wealth Advisors LLC increased its position in MercadoLibre by 41.2% during the first quarter. Moser Wealth Advisors LLC now owns 24 shares of the company’s stock worth $47,000 after purchasing an additional 7 shares during the last quarter. Flagship Harbor Advisors LLC raised its stake in MercadoLibre by 27.0% during the first quarter. Flagship Harbor Advisors LLC now owns 799 shares of the company’s stock worth $1,559,000 after purchasing an additional 170 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in MercadoLibre by 16.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,609 shares of the company’s stock valued at $8,992,000 after purchasing an additional 659 shares during the last quarter. Finally, Atticus Wealth Management LLC purchased a new stake in shares of MercadoLibre in the 1st quarter valued at approximately $96,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

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.