MercadoLibre (NASDAQ:MELI) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of MercadoLibre (NASDAQ:MELI) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

A number of other brokerages also recently commented on MELI. UBS Group lowered their target price on MercadoLibre from $1,900.00 to $1,800.00 and set a buy rating on the stock in a research note on Wednesday, April 17th. Dbs Bank raised shares of MercadoLibre from a hold rating to a strong-buy rating in a research report on Thursday, July 11th. DZ Bank raised MercadoLibre from a hold rating to a buy rating and set a $1,685.00 target price on the stock in a report on Tuesday, April 23rd. BTIG Research raised their price target on shares of MercadoLibre from $1,885.00 to $2,025.00 and gave the stock a buy rating in a research report on Friday. Finally, Wedbush reaffirmed an outperform rating and issued a $1,800.00 price target on shares of MercadoLibre in a report on Friday, May 3rd. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, MercadoLibre currently has an average rating of Buy and an average price target of $1,944.17.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,776.00 on Friday. MercadoLibre has a fifty-two week low of $1,141.04 and a fifty-two week high of $1,825.00. The company has a quick ratio of 1.25, a current ratio of 1.27 and a debt-to-equity ratio of 0.66. The stock has a market cap of $90.04 billion, a P/E ratio of 79.46, a P/E/G ratio of 1.13 and a beta of 1.60. The firm’s 50-day simple moving average is $1,647.02 and its 200 day simple moving average is $1,620.22.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a return on equity of 45.61% and a net margin of 8.03%. The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the prior year, the firm earned $5.16 EPS. The company’s quarterly revenue was up 41.5% compared to the same quarter last year. Equities analysts expect that MercadoLibre will post 33.4 EPS for the current year.

Hedge Funds Weigh In On MercadoLibre

A number of hedge funds have recently bought and sold shares of the company. O Dell Group LLC raised its holdings in MercadoLibre by 2.1% during the first quarter. O Dell Group LLC now owns 294 shares of the company’s stock worth $445,000 after buying an additional 6 shares during the last quarter. Belpointe Asset Management LLC lifted its holdings in shares of MercadoLibre by 1.0% in the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock worth $1,016,000 after buying an additional 6 shares in the last quarter. Wealthspire Advisors LLC boosted its holdings in MercadoLibre by 1.8% in the 4th quarter. Wealthspire Advisors LLC now owns 391 shares of the company’s stock valued at $614,000 after purchasing an additional 7 shares during the period. Independent Advisor Alliance boosted its stake in MercadoLibre by 1.2% during the fourth quarter. Independent Advisor Alliance now owns 586 shares of the company’s stock valued at $921,000 after buying an additional 7 shares during the period. Finally, Hilltop National Bank raised its stake in MercadoLibre by 14.3% in the second quarter. Hilltop National Bank now owns 56 shares of the company’s stock valued at $92,000 after purchasing an additional 7 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

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.