MercadoLibre, Inc. (NASDAQ:MELI) Receives Average Rating of “Moderate Buy” from Analysts

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have been assigned a consensus recommendation of “Moderate Buy” from the eighteen research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $2,255.3333.

A number of analysts recently issued reports on the stock. Itau BBA Securities restated an “outperform” rating on shares of MercadoLibre in a research report on Wednesday, February 25th. BTIG Research restated a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a research report on Tuesday. Zacks Research downgraded shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 22nd. Barclays cut their price target on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Finally, Citigroup downgraded shares of MercadoLibre from a “buy” rating to a “neutral” rating and cut their price target for the stock from $2,200.00 to $1,950.00 in a research note on Wednesday, May 13th.

MercadoLibre Stock Down 2.0%

Shares of NASDAQ MELI opened at $1,638.54 on Thursday. MercadoLibre has a 1 year low of $1,495.00 and a 1 year high of $2,645.22. The firm’s 50 day moving average price is $1,720.99 and its 200 day moving average price is $1,892.73. The firm has a market cap of $83.07 billion, a P/E ratio of 43.24, a price-to-earnings-growth ratio of 1.03 and a beta of 1.36. 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 (NASDAQ:MELI) last announced its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The firm had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter last year, the business posted $9.74 EPS. The firm’s revenue was up 49.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that MercadoLibre will post 40.97 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Alejandro Nicolas Aguzin purchased 600 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were bought at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the purchase, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MercadoLibre

A number of large investors have recently bought and sold shares of the stock. Parallel Advisors LLC raised its stake in MercadoLibre by 15.3% during the first quarter. Parallel Advisors LLC now owns 1,562 shares of the company’s stock worth $2,701,000 after purchasing an additional 207 shares during the period. Dala Group LLC purchased a new position in MercadoLibre during the first quarter worth approximately $2,992,000. Glenmede Trust Co. NA raised its stake in MercadoLibre by 46.6% during the first quarter. Glenmede Trust Co. NA now owns 4,967 shares of the company’s stock worth $8,588,000 after purchasing an additional 1,579 shares during the period. Axiom Investment Management LLC purchased a new position in MercadoLibre during the first quarter worth approximately $2,208,000. Finally, WNY Asset Management LLC purchased a new position in MercadoLibre during the first quarter worth approximately $1,554,000. Hedge funds and other institutional investors 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.