MercadoLibre (NASDAQ:MELI) Rating Increased to Buy at Jefferies Financial Group

Jefferies Financial Group upgraded shares of MercadoLibre (NASDAQ:MELI) from a hold rating to a buy rating in a research report released on Tuesday morning, Marketbeat.com reports. Jefferies Financial Group currently has $2,600.00 target price on the stock, down from their previous target price of $2,800.00.

Other equities research analysts have also recently issued research reports about the stock. Wedbush lowered their price target on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. BTIG Research lowered their price target on shares of MercadoLibre from $2,650.00 to $2,400.00 and set a “buy” rating for the company in a research report on Friday, March 20th. UBS Group lowered their price target on shares of MercadoLibre from $2,900.00 to $2,700.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Barclays lowered their price target on shares of MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Finally, Cantor Fitzgerald lowered their price target on shares of MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average price target of $2,695.33.

MercadoLibre Trading Up 1.9%

MELI opened at $1,742.30 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $88.33 billion, a PE ratio of 44.22, a PEG ratio of 0.90 and a beta of 1.49. MercadoLibre has a 1-year low of $1,593.21 and a 1-year high of $2,645.22. The firm has a 50-day moving average price of $1,840.83 and a two-hundred day moving average price of $2,028.78.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Saturday, February 14th. The company reported $11.03 earnings per share for the quarter. MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. The firm had revenue of $8.76 billion during the quarter. As a group, equities analysts anticipate that MercadoLibre will post 43.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MELI. Weitz Investment Management Inc. bought a new position in MercadoLibre in the third quarter valued at approximately $8,647,000. Barlow Wealth Partners Inc. lifted its stake in MercadoLibre by 126.7% in the third quarter. Barlow Wealth Partners Inc. now owns 11,505 shares of the company’s stock valued at $26,886,000 after buying an additional 6,429 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in MercadoLibre by 14.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 86,699 shares of the company’s stock valued at $202,610,000 after buying an additional 10,849 shares in the last quarter. Principal Financial Group Inc. lifted its stake in MercadoLibre by 18.7% in the third quarter. Principal Financial Group Inc. now owns 48,103 shares of the company’s stock valued at $112,414,000 after buying an additional 7,570 shares in the last quarter. Finally, Donaldson Capital Management LLC lifted its stake in MercadoLibre by 65.0% in the third quarter. Donaldson Capital Management LLC now owns 2,678 shares of the company’s stock valued at $6,258,000 after buying an additional 1,055 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.