MercadoLibre (NASDAQ:MELI) Price Target Raised to $2,750.00

MercadoLibre (NASDAQ:MELI) had its target price boosted by The Goldman Sachs Group from $2,400.00 to $2,750.00 in a research note published on Monday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other analysts have also recently commented on MELI. Wedbush dropped their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. Cantor Fitzgerald lifted their price target on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Susquehanna lifted their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a report on Friday, February 21st. Citigroup lowered their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Finally, New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and lifted their price target for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, MercadoLibre has an average rating of “Buy” and an average price target of $2,402.81.

MercadoLibre Trading Up 2.6 %

MercadoLibre stock opened at $2,112.77 on Monday. The stock has a market cap of $107.11 billion, a PE ratio of 56.04, a P/E/G ratio of 1.12 and a beta of 1.62. The stock has a 50-day moving average price of $1,930.48 and a 200 day moving average price of $1,969.77. MercadoLibre has a 52 week low of $1,324.99 and a 52 week 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.

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

Hedge Funds Weigh In On MercadoLibre

Several hedge funds and other institutional investors have recently bought and sold shares of MELI. Capital International Investors lifted its position in MercadoLibre by 38.7% during the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company’s stock worth $2,868,869,000 after acquiring an additional 470,829 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in MercadoLibre by 41.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company’s stock worth $2,370,848,000 after acquiring an additional 405,425 shares in the last quarter. Wealthfront Advisers LLC acquired a new position in MercadoLibre during the 4th quarter worth approximately $565,306,000. Capital World Investors lifted its position in MercadoLibre by 24.5% during the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company’s stock worth $2,667,386,000 after acquiring an additional 308,973 shares in the last quarter. Finally, Norges Bank acquired a new position in MercadoLibre during the 4th quarter worth approximately $383,051,000. 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.