Brokerages Set MercadoLibre, Inc. (NASDAQ:MELI) PT at $2,255.33

MercadoLibre, Inc. (NASDAQ:MELI) has been assigned an average recommendation of “Moderate Buy” from the seventeen brokerages that are covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $2,272.00.

Several research analysts have recently issued reports on the company. Raymond James Financial set a $2,000.00 price objective on MercadoLibre in a research report on Friday, May 8th. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a research note on Wednesday, May 13th. Barclays dropped their price objective on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Finally, Scotiabank cut their price target on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 7th.

MercadoLibre Trading Down 0.0%

Shares of MercadoLibre stock opened at $1,828.25 on Tuesday. The firm has a market capitalization of $92.69 billion, a price-to-earnings ratio of 49.72, a PEG ratio of 1.26 and a beta of 1.34. MercadoLibre has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50. The stock has a 50 day moving average of $1,762.73 and a 200 day moving average of $1,788.29. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter in the prior year, the company earned $10.31 EPS. MercadoLibre’s revenue was up 49.8% on a year-over-year basis. As a group, research analysts predict that MercadoLibre will post 38.98 earnings per share for the current year.

Insider Buying and Selling

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of MercadoLibre stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the acquisition, the director owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Bison Wealth LLC bought a new position in shares of MercadoLibre during the fourth quarter valued at approximately $206,000. Empowered Funds LLC lifted its position in shares of MercadoLibre by 6.9% in the first quarter. Empowered Funds LLC now owns 760 shares of the company’s stock worth $1,483,000 after purchasing an additional 49 shares in the last quarter. Focus Partners Wealth lifted its holdings in shares of MercadoLibre by 42.0% during the 1st quarter. Focus Partners Wealth now owns 602 shares of the company’s stock valued at $1,176,000 after buying an additional 178 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of MercadoLibre in the second quarter worth about $261,000. Finally, Gamco Investors INC. ET AL lifted its position in MercadoLibre by 21.4% during the 2nd quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock worth $444,000 after acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.