MercadoLibre (NASDAQ:MELI) Stock Rating Upgraded by DZ Bank

DZ Bank upgraded shares of MercadoLibre (NASDAQ:MELI) from a hold rating to a buy rating in a report issued on Tuesday morning, MarketBeat reports. They currently have $1,685.00 price objective on the stock.

Other analysts also recently issued research reports about the stock. Susquehanna increased their price objective on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the company a positive rating in a research report on Friday, February 23rd. Wedbush reiterated an outperform rating and set a $2,000.00 target price on shares of MercadoLibre in a research note on Tuesday, March 5th. JPMorgan Chase & Co. increased their target price on MercadoLibre from $2,000.00 to $2,150.00 and gave the company an overweight rating in a research note on Tuesday, February 27th. Barclays reduced their price objective on MercadoLibre from $2,000.00 to $1,800.00 and set an overweight rating on the stock in a research note on Wednesday, April 3rd. Finally, Citigroup reduced their price objective on MercadoLibre from $1,990.00 to $1,940.00 and set a buy rating on the stock in a research note on Wednesday, March 27th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $1,790.36.

MercadoLibre Trading Up 3.1 %

Shares of MELI stock opened at $1,406.00 on Tuesday. The firm has a 50-day moving average price of $1,523.37 and a 200 day moving average price of $1,528.68. MercadoLibre has a twelve month low of $1,063.02 and a twelve month high of $1,825.00. The company has a market capitalization of $71.28 billion, a price-to-earnings ratio of 71.96, a PEG ratio of 0.91 and a beta of 1.44. The company has a current ratio of 1.27, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $6.66 by ($3.41). The business had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.14 billion. MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The firm’s quarterly revenue was up 42.0% compared to the same quarter last year. During the same quarter last year, the firm earned $3.25 EPS. Research analysts forecast that MercadoLibre will post 34.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

Several institutional investors have recently made changes to their positions in MELI. Morgan Stanley raised its stake in shares of MercadoLibre by 10.2% in the 3rd quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock valued at $3,243,832,000 after acquiring an additional 236,744 shares in the last quarter. Jennison Associates LLC boosted its stake in MercadoLibre by 1.3% in the 3rd quarter. Jennison Associates LLC now owns 2,233,430 shares of the company’s stock valued at $2,831,721,000 after buying an additional 28,095 shares in the last quarter. WCM Investment Management LLC boosted its stake in MercadoLibre by 74.8% in the 4th quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock valued at $1,838,964,000 after buying an additional 497,535 shares in the last quarter. Capital International Investors boosted its stake in MercadoLibre by 0.4% in the 4th quarter. Capital International Investors now owns 1,037,070 shares of the company’s stock valued at $1,630,740,000 after buying an additional 4,317 shares in the last quarter. Finally, Capital World Investors boosted its stake in MercadoLibre by 13.3% in the 4th quarter. Capital World Investors now owns 750,720 shares of the company’s stock valued at $1,179,787,000 after buying an additional 88,359 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Company Profile

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.