Barclays Increases MercadoLibre (NASDAQ:MELI) Price Target to $3,100.00

MercadoLibre (NASDAQ:MELI) had its target price upped by research analysts at Barclays from $2,500.00 to $3,100.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 26.40% from the company’s current price.

A number of other brokerages have also weighed in on MELI. The Goldman Sachs Group increased their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Citigroup reissued a “buy” rating on shares of MercadoLibre in a research report on Tuesday, April 15th. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their price target for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Cantor Fitzgerald reduced their target price on MercadoLibre from $3,000.00 to $2,400.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Finally, Bank of America boosted their target price on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average price target of $2,504.67.

MercadoLibre Stock Up 1.8 %

MELI opened at $2,452.53 on Thursday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The company has a market cap of $124.34 billion, a price-to-earnings ratio of 65.05, a PEG ratio of 1.12 and a beta of 1.61. MercadoLibre has a one year low of $1,550.00 and a one year high of $2,501.00. The business’s fifty day moving average is $2,081.98 and its two-hundred day moving average is $1,982.42.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, topping analysts’ consensus estimates of $7.82 by $1.92. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.55 billion. During the same period in the previous year, the firm posted $6.78 earnings per share. The business’s revenue for the quarter was up 37.0% compared to the same quarter last year. Analysts anticipate that MercadoLibre will post 43.96 EPS for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

A number of institutional investors have recently modified their holdings of the stock. Capital Research Global Investors boosted its holdings in MercadoLibre by 8.0% in the fourth quarter. Capital Research Global Investors now owns 2,415,815 shares of the company’s stock worth $4,108,079,000 after purchasing an additional 179,807 shares during the period. Capital International Investors raised its stake in MercadoLibre by 38.7% during the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company’s stock worth $2,868,869,000 after acquiring an additional 470,829 shares during the period. Capital World Investors boosted its stake in MercadoLibre by 24.5% in the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company’s stock valued at $2,667,386,000 after acquiring an additional 308,973 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of MercadoLibre by 41.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company’s stock worth $2,370,848,000 after purchasing an additional 405,425 shares during the period. Finally, Jennison Associates LLC boosted its position in MercadoLibre by 1.6% during the 1st quarter. Jennison Associates LLC now owns 1,154,116 shares of the company’s stock valued at $2,251,531,000 after purchasing an additional 18,731 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

About MercadoLibre

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.