MercadoLibre (NASDAQ:MELI) Price Target Raised to $3,000.00

MercadoLibre (NASDAQ:MELI) had its price target hoisted by The Goldman Sachs Group from $2,640.00 to $3,000.00 in a research report released on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other brokerages also recently weighed in on MELI. Bank of America lifted their price target on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a report on Friday, February 21st. Cantor Fitzgerald lowered their price target on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Susquehanna lifted their price target on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a report on Friday, February 21st. Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price on the stock in a report on Tuesday, January 21st. Finally, New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $2,521.33.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,584.92 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre has a 1-year low of $1,550.00 and a 1-year high of $2,610.30. The company has a market capitalization of $131.05 billion, a P/E ratio of 68.57, a P/E/G ratio of 1.12 and a beta of 1.61. The firm’s 50 day simple moving average is $2,135.04 and its two-hundred day simple moving average is $1,999.88.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating the consensus estimate of $7.82 by $1.92. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The business had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter in the previous year, the firm earned $6.78 earnings per share. The company’s revenue for the quarter was up 37.0% on a year-over-year basis. Research analysts expect that MercadoLibre will post 43.96 EPS for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

Several large investors have recently bought and sold shares of the business. Capital Research Global Investors increased its position in MercadoLibre by 8.0% in the fourth quarter. Capital Research Global Investors now owns 2,415,815 shares of the company’s stock worth $4,108,079,000 after purchasing an additional 179,807 shares during the last quarter. Capital International Investors increased its position in MercadoLibre by 38.7% in the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company’s stock worth $2,868,869,000 after purchasing an additional 470,829 shares during the last quarter. Capital World Investors increased its position in MercadoLibre by 24.5% in the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company’s stock worth $2,667,386,000 after purchasing an additional 308,973 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in MercadoLibre by 41.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company’s stock worth $2,370,848,000 after purchasing an additional 405,425 shares during the last quarter. Finally, Jennison Associates LLC increased its position in MercadoLibre by 1.6% during the first quarter. Jennison Associates LLC now owns 1,154,116 shares of the company’s stock valued at $2,251,531,000 after acquiring an additional 18,731 shares during the last quarter. Institutional investors 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.