Brokerages Set MercadoLibre, Inc. (NASDAQ:MELI) PT at $2,861.25

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have received a consensus recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $2,861.25.

A number of equities research analysts have weighed in on MELI shares. Barclays lifted their price objective on MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. JPMorgan Chase & Co. lifted their price target on MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Wedbush increased their price objective on MercadoLibre from $2,700.00 to $2,800.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Raymond James Financial reissued a “strong-buy” rating and issued a $2,750.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, Benchmark lowered their price target on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,099.57 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The firm has a market cap of $106.44 billion, a price-to-earnings ratio of 51.23, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51. The firm’s fifty day moving average price is $2,277.14 and its 200 day moving average price is $2,377.49. MercadoLibre has a 1-year low of $1,646.00 and a 1-year high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The firm had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.19 billion. During the same quarter last year, the business posted $7.83 EPS. The firm’s revenue was up 39.5% on a year-over-year basis. On average, sell-side analysts expect that MercadoLibre will post 43.96 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MELI. Key Financial Inc acquired a new stake in shares of MercadoLibre in the 1st quarter worth approximately $25,000. GW&K Investment Management LLC purchased a new stake in MercadoLibre during the first quarter worth $25,000. Close Asset Management Ltd grew its holdings in MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares during the last quarter. Brooklyn Investment Group grew its holdings in MercadoLibre by 650.0% in the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after purchasing an additional 13 shares during the last quarter. Finally, Twin Tree Management LP purchased a new position in shares of MercadoLibre in the first quarter valued at $29,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

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.