MercadoLibre, Inc. (NASDAQ:MELI) Stock Rated “Moderate Buy” by Wall Street Brokerages

MercadoLibre, Inc. (NASDAQ:MELI) has been assigned an average rating of “Moderate Buy” from the eighteen brokerages that are currently covering the company, Marketbeat reports. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $2,283.12.

A number of analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MercadoLibre in a research report on Tuesday, September 29th. Citigroup boosted their target price on MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. BTIG Research reaffirmed a “buy” rating and set a $2,150.00 price target on shares of MercadoLibre in a report on Thursday, September 3rd. JPMorgan Chase & Co. lifted their price objective on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Finally, New Street Research started coverage on shares of MercadoLibre in a research report on Wednesday, September 23rd. They set a “buy” rating and a $2,450.00 price objective for the company.

MercadoLibre Price Performance

Shares of MELI stock opened at $1,696.56 on Wednesday. MercadoLibre has a 52-week low of $1,495.00 and a 52-week high of $2,428.00. The stock has a market cap of $86.02 billion, a price-to-earnings ratio of 46.14, a PEG ratio of 1.19 and a beta of 1.31. The firm’s 50-day moving average is $1,863.81 and its 200-day moving average is $1,769.78. 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 quarterly earnings results on Thursday, August 6th. The company reported $9.19 EPS for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. The business had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.MercadoLibre’s quarterly revenue was up 49.8% on a year-over-year basis. During the same quarter last year, the company posted $10.31 earnings per share. Sell-side analysts predict that MercadoLibre will post 38.29 EPS for the current year.

Institutional Trading of MercadoLibre

Hedge funds and other institutional investors have recently modified their holdings of the stock. Polaris Financial Partners acquired a new position in MercadoLibre in the 3rd quarter valued at about $59,000. Versant Capital Management Inc lifted its position in MercadoLibre by 40.4% during the third quarter. Versant Capital Management Inc now owns 212 shares of the company’s stock worth $367,000 after acquiring an additional 61 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in shares of MercadoLibre by 14.2% during the second quarter. QRG Capital Management Inc. now owns 193 shares of the company’s stock worth $328,000 after acquiring an additional 24 shares during the period. Andra AP fonden acquired a new position in shares of MercadoLibre in the second quarter valued at approximately $2,156,000. Finally, State Street Corp lifted its holdings in MercadoLibre by 7.7% during the 2nd quarter. State Street Corp now owns 459,748 shares of the company’s stock worth $780,372,000 after purchasing an additional 32,734 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Company Profile

MercadoLibre, Inc (NASDAQ:MELI) operates a technology platform serving commerce and financial-services customers across Latin America. Its online marketplace connects buyers and sellers, offering products across categories including electronics, apparel, home goods, automotive products and consumer packaged goods.

The company also provides a range of supporting services, including Mercado Pago, a digital payments platform that enables online and in-person transactions, money transfers and other financial services.