MercadoLibre (NASDAQ:MELI) Price Target Raised to $2,100.00

MercadoLibre (NASDAQ:MELI) had its price target raised by Barclays from $2,000.00 to $2,100.00 in a report released on Tuesday, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other analysts have also commented on the stock. New Street Research lowered shares of MercadoLibre from a buy rating to a neutral rating in a report on Friday, May 24th. Wedbush reissued an outperform rating and set a $1,800.00 price objective on shares of MercadoLibre in a research report on Friday, May 3rd. BTIG Research lifted their price target on shares of MercadoLibre from $1,885.00 to $2,025.00 and gave the company a buy rating in a research report on Friday, August 2nd. StockNews.com upgraded MercadoLibre from a hold rating to a buy rating in a research note on Friday, August 2nd. Finally, Dbs Bank upgraded MercadoLibre from a hold rating to a strong-buy rating in a report on Thursday, July 11th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $1,998.33.

MercadoLibre Trading Up 0.8 %

MercadoLibre stock traded up $14.22 during mid-day trading on Tuesday, hitting $1,883.62. The company’s stock had a trading volume of 232,949 shares, compared to its average volume of 371,967. The stock has a market cap of $95.49 billion, a price-to-earnings ratio of 84.28, a price-to-earnings-growth ratio of 1.13 and a beta of 1.60. MercadoLibre has a 12 month low of $1,141.04 and a 12 month high of $1,909.80. The business has a 50 day moving average price of $1,660.26 and a 200-day moving average price of $1,625.88. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.27 and a quick ratio of 1.25.

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

Institutional Investors Weigh In On MercadoLibre

A number of hedge funds have recently bought and sold shares of the business. Abbot Financial Management Inc. grew its position in MercadoLibre by 10.3% in the second quarter. Abbot Financial Management Inc. now owns 514 shares of the company’s stock worth $845,000 after acquiring an additional 48 shares in the last quarter. Quantbot Technologies LP boosted its stake in shares of MercadoLibre by 127.7% during the 2nd quarter. Quantbot Technologies LP now owns 4,903 shares of the company’s stock worth $8,058,000 after purchasing an additional 2,750 shares during the period. Sierra Summit Advisors LLC raised its position in MercadoLibre by 2.5% in the 2nd quarter. Sierra Summit Advisors LLC now owns 6,324 shares of the company’s stock worth $10,393,000 after purchasing an additional 157 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of MercadoLibre by 39.9% during the second quarter. Dimensional Fund Advisors LP now owns 235 shares of the company’s stock valued at $386,000 after buying an additional 67 shares during the last quarter. Finally, Rathbones Group PLC lifted its position in shares of MercadoLibre by 54.9% during the second quarter. Rathbones Group PLC now owns 8,583 shares of the company’s stock worth $14,105,000 after purchasing an additional 3,041 shares during the last quarter. Hedge funds and other 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.