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

MercadoLibre, Inc. (NASDAQ:MELI) has been assigned an average rating of “Moderate Buy” from the sixteen analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, twelve have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $2,690.29.

Several research analysts recently commented on MELI shares. Benchmark cut MercadoLibre from a “buy” rating to a “cautious” rating in a research report on Thursday, May 1st. UBS Group set a $3,000.00 price objective on shares of MercadoLibre in a research note on Monday, June 2nd. JPMorgan Chase & Co. raised their price objective on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a “neutral” rating in a report on Thursday, May 22nd. Citigroup reissued a “buy” rating on shares of MercadoLibre in a research note on Friday, June 6th. Finally, Barclays dropped their price target on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating for the company in a research report on Wednesday, July 23rd.

Hedge Funds Weigh In On MercadoLibre

Institutional investors have recently bought and sold shares of the business. Prospect Financial Services LLC raised its holdings in shares of MercadoLibre by 41.7% in the first quarter. Prospect Financial Services LLC now owns 340 shares of the company’s stock valued at $663,000 after buying an additional 100 shares during the last quarter. Stratos Investment Management LLC acquired a new stake in MercadoLibre in the 1st quarter valued at about $203,000. JARISLOWSKY FRASER Ltd increased its position in MercadoLibre by 43.6% in the 4th quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company’s stock valued at $5,525,000 after acquiring an additional 987 shares in the last quarter. Avant Financial Advisors LLC bought a new position in shares of MercadoLibre in the fourth quarter worth about $316,000. Finally, Blue Sky Capital Consultants Group Inc. acquired a new position in shares of MercadoLibre during the fourth quarter worth approximately $2,500,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 0.3%

Shares of MELI opened at $2,373.89 on Friday. MercadoLibre has a 12-month low of $1,579.78 and a 12-month high of $2,645.22. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $120.36 billion, a price-to-earnings ratio of 58.38, a P/E/G ratio of 1.42 and a beta of 1.49. The stock’s 50-day moving average price is $2,458.47 and its 200 day moving average price is $2,219.50.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, topping the consensus estimate of $7.82 by $1.92. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. MercadoLibre’s revenue for the quarter was up 37.0% compared to the same quarter last year. During the same quarter last year, the firm earned $6.78 EPS. As a group, research analysts predict that MercadoLibre will post 43.96 earnings per share for the current year.

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.