Analysts Set MercadoLibre, Inc. (NASDAQ:MELI) PT at $2,258.67

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have been given an average rating of “Moderate Buy” by the eighteen research firms that are covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $2,258.6667.

Several analysts have issued reports on the company. Morgan Stanley cut their price objective on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Daiwa Securities Group lowered shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price for the company. in a research note on Friday, May 8th. The Goldman Sachs Group set a $2,100.00 price target on MercadoLibre in a report on Wednesday, May 13th. UBS Group reduced their price objective on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Finally, Scotiabank reduced their price objective on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a report on Thursday, May 7th.

Insider Activity at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were acquired at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the purchase, the director directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On MercadoLibre

Institutional investors have recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC bought a new stake in shares of MercadoLibre in the 4th quarter worth $26,000. Transamerica Financial Advisors LLC acquired a new stake in shares of MercadoLibre in the fourth quarter valued at $26,000. Purpose Unlimited Inc. bought a new position in MercadoLibre during the fourth quarter valued at about $28,000. Darwin Wealth Management LLC bought a new position in MercadoLibre during the second quarter valued at about $29,000. Finally, Curio Wealth LLC acquired a new position in MercadoLibre during the fourth quarter worth about $30,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,813.91 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. MercadoLibre has a 1 year low of $1,495.00 and a 1 year high of $2,548.50. The stock’s 50-day simple moving average is $1,681.90 and its 200-day simple moving average is $1,821.33. The firm has a market cap of $91.97 billion, a price-to-earnings ratio of 47.87, a PEG ratio of 1.12 and a beta of 1.35.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). The business had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The company’s revenue for the quarter was up 49.0% on a year-over-year basis. During the same period in the prior year, the company posted $9.74 EPS. As a group, equities analysts anticipate that MercadoLibre will post 41 earnings per share for the current fiscal year.

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.