MercadoLibre (NASDAQ:MELI) Upgraded by Jefferies Financial Group to Buy

Jefferies Financial Group upgraded shares of MercadoLibre (NASDAQ:MELIFree Report) from a hold rating to a buy rating in a research note published on Monday, Marketbeat reports. Jefferies Financial Group currently has $2,100.00 target price on the stock, up from their previous target price of $1,400.00.

A number of other analysts have also recently issued reports on the company. UBS Group decreased their target price on MercadoLibre from $1,900.00 to $1,800.00 and set a buy rating for the company in a report on Wednesday, April 17th. Citigroup decreased their target price on MercadoLibre from $1,990.00 to $1,940.00 and set a buy rating for the company in a report on Wednesday, March 27th. Susquehanna boosted their target price on MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a positive rating in a report on Friday, February 23rd. Barclays boosted their target price on MercadoLibre from $1,800.00 to $2,000.00 and gave the stock an overweight rating in a report on Monday, May 13th. Finally, Wedbush reiterated an outperform rating and set a $1,800.00 target price on shares of MercadoLibre in a report on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $1,881.92.

Check Out Our Latest Stock Report on MELI

MercadoLibre Stock Down 1.7 %

MELI opened at $1,707.40 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.27 and a quick ratio of 1.25. The stock has a market capitalization of $86.57 billion, a price-to-earnings ratio of 76.39, a price-to-earnings-growth ratio of 1.29 and a beta of 1.45. The business has a 50-day moving average of $1,542.40 and a two-hundred day moving average of $1,584.82. MercadoLibre has a 12 month low of $1,063.02 and a 12 month high of $1,825.00.

MercadoLibre (NASDAQ:MELIGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, beating the consensus estimate of $6.64 by $0.14. The company had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $3.84 billion. MercadoLibre had a return on equity of 39.46% and a net margin of 7.17%. The firm’s revenue was up 36.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.97 EPS. On average, research analysts expect that MercadoLibre will post 33.81 earnings per share for the current year.

Hedge Funds Weigh In On MercadoLibre

Institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. raised its position in shares of MercadoLibre by 99.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 53,554 shares of the company’s stock valued at $67,900,000 after purchasing an additional 26,679 shares in the last quarter. Townsquare Capital LLC raised its position in shares of MercadoLibre by 0.9% in the 3rd quarter. Townsquare Capital LLC now owns 1,549 shares of the company’s stock valued at $1,964,000 after purchasing an additional 14 shares in the last quarter. Vestor Capital LLC raised its position in shares of MercadoLibre by 10.0% in the 4th quarter. Vestor Capital LLC now owns 88 shares of the company’s stock valued at $138,000 after purchasing an additional 8 shares in the last quarter. Vanguard Group Inc. raised its position in shares of MercadoLibre by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 178,815 shares of the company’s stock valued at $226,716,000 after purchasing an additional 4,065 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of MercadoLibre by 112,333.8% during the 4th quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock valued at $229,703,000 after acquiring an additional 146,034 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

About MercadoLibre

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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.

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Analyst Recommendations for MercadoLibre (NASDAQ:MELI)

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