Brokerages Set MercadoLibre, Inc. (NASDAQ:MELI) Target Price at $2,272.00

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have been given an average rating of “Moderate Buy” by the seventeen brokerages that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $2,272.00.

Several equities analysts have weighed in on MELI shares. Cantor Fitzgerald lifted their target price on MercadoLibre from $2,150.00 to $2,300.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. BTIG Research reissued a “buy” rating and issued a $2,150.00 price objective on shares of MercadoLibre in a research note on Thursday, September 3rd. Citigroup lifted their price objective on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. upped their target price on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th.

MercadoLibre Trading Down 0.5%

Shares of NASDAQ MELI opened at $1,897.37 on Friday. MercadoLibre has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $1,878.13 and a 200-day simple moving average of $1,768.31. The stock has a market capitalization of $96.19 billion, a PE ratio of 51.60, a PEG ratio of 1.31 and a beta of 1.31.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, August 6th. The company reported $9.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter in the previous year, the business earned $10.31 EPS. The company’s quarterly revenue was up 49.8% compared to the same quarter last year. On average, equities analysts forecast that MercadoLibre will post 39.11 earnings per share for the current year.

Hedge Funds Weigh In On MercadoLibre

Several institutional investors have recently modified their holdings of MELI. Darwin Wealth Management LLC acquired a new stake in shares of MercadoLibre in the second quarter valued at $29,000. Transamerica Financial Advisors LLC acquired a new position in MercadoLibre during the 4th quarter worth $26,000. Purpose Unlimited Inc. purchased a new stake in MercadoLibre during the 4th quarter worth about $28,000. Curio Wealth LLC purchased a new stake in MercadoLibre during the 4th quarter worth about $30,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in MercadoLibre in the 3rd quarter valued at about $35,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

About MercadoLibre

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company began as an online marketplace and has expanded into a broad platform serving consumers, merchants and businesses.

Its marketplace enables users to buy and sell products across categories, while Mercado Pago provides digital payments, online checkout, money transfers and other financial services. The company also offers Mercado Envíos logistics and fulfillment services, Mercado Ads advertising solutions, and credit products through Mercado Crédito.