Analysts Set MercadoLibre, Inc. (NASDAQ:MELI) Target Price at $1,922.08

MercadoLibre, Inc. (NASDAQ:MELI) has been assigned a consensus recommendation of “Buy” from the thirteen brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $1,922.08.

A number of analysts have issued reports on MELI shares. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and boosted their price objective for the company from $1,400.00 to $2,100.00 in a report on Monday, May 20th. Barclays boosted their price objective on shares of MercadoLibre from $1,800.00 to $2,000.00 and gave the company an “overweight” rating in a report on Monday, May 13th. New Street Research downgraded shares of MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. UBS Group cut their price target on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Finally, Wedbush reaffirmed an “outperform” rating and set a $1,800.00 price target on shares of MercadoLibre in a report on Friday, May 3rd.

Institutional Investors Weigh In On MercadoLibre

Several large investors have recently modified their holdings of the company. K.J. Harrison & Partners Inc lifted its stake in shares of MercadoLibre by 66.7% in the second quarter. K.J. Harrison & Partners Inc now owns 500 shares of the company’s stock valued at $822,000 after buying an additional 200 shares in the last quarter. Financial Connections Group Inc. bought a new position in shares of MercadoLibre in the second quarter valued at $36,000. Bensler LLC lifted its stake in shares of MercadoLibre by 5.0% in the second quarter. Bensler LLC now owns 4,448 shares of the company’s stock valued at $7,311,000 after buying an additional 211 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of MercadoLibre by 2.0% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 3,698 shares of the company’s stock valued at $6,077,000 after buying an additional 71 shares in the last quarter. Finally, Atomi Financial Group Inc. lifted its stake in shares of MercadoLibre by 32.6% in the second quarter. Atomi Financial Group Inc. now owns 297 shares of the company’s stock valued at $488,000 after buying an additional 73 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Up 1.6 %

Shares of MELI opened at $1,651.69 on Monday. MercadoLibre has a 52 week low of $1,141.04 and a 52 week high of $1,825.00. The firm has a market cap of $83.74 billion, a P/E ratio of 73.90, a price-to-earnings-growth ratio of 1.22 and a beta of 1.60. The firm’s 50-day simple moving average is $1,654.99 and its 200 day simple moving average is $1,619.65. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.25 and a current ratio of 1.27.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, beating analysts’ consensus estimates of $6.64 by $0.14. MercadoLibre had a net margin of 7.17% and a return on equity of 39.46%. The business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same quarter in the prior year, the business earned $3.97 EPS. MercadoLibre’s quarterly revenue was up 36.0% on a year-over-year basis. On average, analysts forecast that MercadoLibre will post 33.38 earnings per share for the current year.

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.