MercadoLibre’s (MELI) “Buy” Rating Reaffirmed at BTIG Research

BTIG Research reiterated their buy rating on shares of MercadoLibre (NASDAQ:MELI) in a research report sent to investors on Thursday morning,Benzinga reports. BTIG Research currently has a $2,750.00 price objective on the stock.

Several other equities research analysts also recently issued reports on MELI. Morgan Stanley lifted their price objective on MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a research report on Tuesday. UBS Group cut their price target on shares of MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating on the stock in a report on Monday, November 24th. Cantor Fitzgerald reduced their price objective on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Finally, Barclays boosted their target price on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,848.82.

MercadoLibre Price Performance

Shares of MELI stock opened at $2,139.56 on Thursday. The company has a market capitalization of $108.48 billion, a PE ratio of 52.21, a price-to-earnings-growth ratio of 1.52 and a beta of 1.42. The firm has a fifty day simple moving average of $2,154.49 and a 200-day simple moving average of $2,338.41. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. MercadoLibre has a twelve month low of $1,646.00 and a twelve month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The firm had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $7.19 billion. During the same period in the previous year, the company earned $7.83 earnings per share. The business’s quarterly revenue was up 39.5% on a year-over-year basis. Equities research analysts anticipate that MercadoLibre will post 43.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

Several large investors have recently added to or reduced their stakes in the stock. Optimize Financial Inc increased its position in MercadoLibre by 1.7% during the 1st quarter. Optimize Financial Inc now owns 238 shares of the company’s stock valued at $464,000 after purchasing an additional 4 shares during the period. Range Financial Group LLC boosted its position in shares of MercadoLibre by 2.7% in the 2nd quarter. Range Financial Group LLC now owns 188 shares of the company’s stock worth $491,000 after purchasing an additional 5 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of MercadoLibre by 26.3% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 24 shares of the company’s stock worth $63,000 after acquiring an additional 5 shares during the last quarter. Quadcap Wealth Management LLC increased its stake in MercadoLibre by 4.2% during the 2nd quarter. Quadcap Wealth Management LLC now owns 124 shares of the company’s stock valued at $324,000 after purchasing an additional 5 shares in the last quarter. Finally, PFW Advisors LLC raised its stake in MercadoLibre by 4.8% in the 3rd quarter. PFW Advisors LLC now owns 110 shares of the company’s stock worth $257,000 after acquiring an additional 5 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

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.