The Goldman Sachs Group Increases MercadoLibre (NASDAQ:MELI) Price Target to $2,750.00

MercadoLibre (NASDAQ:MELI) had its price objective lifted by The Goldman Sachs Group from $2,400.00 to $2,750.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 30.79% from the company’s current price.

Other equities analysts have also issued reports about the company. Citigroup dropped their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Susquehanna upped their price objective on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research note on Friday, February 21st. Cantor Fitzgerald raised their target price on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target for the company in a research report on Tuesday, January 21st. Finally, Bank of America increased their price target on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $2,402.81.

MercadoLibre Trading Down 0.9 %

Shares of MercadoLibre stock traded down $19.34 during mid-day trading on Monday, hitting $2,102.53. 24,256 shares of the stock were exchanged, compared to its average volume of 376,535. The stock has a market capitalization of $106.59 billion, a price-to-earnings ratio of 55.77, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. MercadoLibre has a twelve month low of $1,324.99 and a twelve month high of $2,374.54. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The company has a 50-day simple moving average of $1,909.95 and a 200 day simple moving average of $1,967.66.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. The firm had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. Research analysts forecast that MercadoLibre will post 43.96 EPS for the current year.

Hedge Funds Weigh In On MercadoLibre

Several hedge funds and other institutional investors have recently bought and sold shares of MELI. Swedbank AB grew its holdings in MercadoLibre by 352.8% during the 3rd quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after purchasing an additional 73,336 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of MercadoLibre by 40.4% during the third quarter. Farther Finance Advisors LLC now owns 271 shares of the company’s stock valued at $556,000 after acquiring an additional 78 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of MercadoLibre by 8.7% during the third quarter. Janney Montgomery Scott LLC now owns 5,989 shares of the company’s stock worth $12,290,000 after acquiring an additional 477 shares during the last quarter. BSW Wealth Partners boosted its holdings in MercadoLibre by 4.7% in the third quarter. BSW Wealth Partners now owns 201 shares of the company’s stock valued at $412,000 after purchasing an additional 9 shares during the last quarter. Finally, Donaldson Capital Management LLC grew its stake in MercadoLibre by 5.0% during the 3rd quarter. Donaldson Capital Management LLC now owns 1,394 shares of the company’s stock valued at $2,860,000 after purchasing an additional 67 shares in the last quarter. 87.62% of the stock is 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.