MercadoLibre (NASDAQ:MELI) Earns Buy Rating from Analysts at Redburn Atlantic

Research analysts at Redburn Atlantic started coverage on shares of MercadoLibre (NASDAQ:MELI) in a report released on Friday, Briefing.com reports. The brokerage set a “buy” rating and a $2,800.00 price target on the stock. Redburn Atlantic’s target price would suggest a potential upside of 37.22% from the company’s previous close.

MELI has been the subject of a number of other reports. JPMorgan Chase & Co. cut shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price objective for the company. in a report on Wednesday, October 2nd. Susquehanna upped their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. Raymond James started coverage on shares of MercadoLibre in a report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price target for the company. Citigroup upped their price target on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, The Goldman Sachs Group upped their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,283.00.

MercadoLibre Trading Down 0.4 %

NASDAQ MELI opened at $2,040.50 on Friday. MercadoLibre has a 1-year low of $1,141.04 and a 1-year high of $2,161.73. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $103.45 billion, a PE ratio of 73.74, a price-to-earnings-growth ratio of 1.25 and a beta of 1.61. The firm’s fifty day simple moving average is $1,997.57 and its 200-day simple moving average is $1,737.60.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. MercadoLibre’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same period in the prior year, the company posted $5.16 earnings per share. As a group, sell-side analysts anticipate that MercadoLibre will post 37.55 earnings per share for the current fiscal year.

Institutional Trading of MercadoLibre

Several hedge funds have recently modified their holdings of MELI. GSA Capital Partners LLP boosted its stake in MercadoLibre by 312.3% in the fourth quarter. GSA Capital Partners LLP now owns 1,674 shares of the company’s stock valued at $2,631,000 after acquiring an additional 1,268 shares during the last quarter. O Dell Group LLC lifted its position in MercadoLibre by 15.2% during the 4th quarter. O Dell Group LLC now owns 288 shares of the company’s stock worth $453,000 after buying an additional 38 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of MercadoLibre by 1,432.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 127,355 shares of the company’s stock valued at $200,140,000 after purchasing an additional 119,043 shares during the period. Covenant Partners LLC raised its holdings in shares of MercadoLibre by 113.4% in the 4th quarter. Covenant Partners LLC now owns 751 shares of the company’s stock valued at $1,180,000 after purchasing an additional 399 shares during the period. Finally, Clarity Capital Partners LLC acquired a new position in MercadoLibre in the 4th quarter valued at about $2,232,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

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.