MercadoLibre (NASDAQ:MELI) PT Raised to $2,500.00

MercadoLibre (NASDAQ:MELI) had its price objective upped by analysts at Barclays from $2,100.00 to $2,500.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 27.60% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. Bank of America raised their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Citigroup lifted their price target on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Morgan Stanley raised their price objective on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Finally, BTIG Research upped their target price on MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $2,246.07.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,959.20 on Wednesday. The business has a 50 day moving average price of $1,969.22 and a two-hundred day moving average price of $1,723.44. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. MercadoLibre has a fifty-two week low of $1,141.04 and a fifty-two week high of $2,161.73. The firm has a market cap of $99.33 billion, a PE ratio of 87.66, a price-to-earnings-growth ratio of 1.34 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating the consensus estimate of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The company had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter last year, the business earned $5.16 earnings per share. MercadoLibre’s revenue was up 41.5% compared to the same quarter last year. Sell-side analysts expect that MercadoLibre will post 35.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

Several hedge funds and other institutional investors have recently modified their holdings of MELI. Capital World Investors grew its position in MercadoLibre by 12.7% in the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock worth $1,278,738,000 after purchasing an additional 95,029 shares during the last quarter. GQG Partners LLC grew its position in MercadoLibre by 442.2% during the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after buying an additional 648,198 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in MercadoLibre by 43.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after acquiring an additional 232,787 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of MercadoLibre by 55.8% in the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after acquiring an additional 132,028 shares during the period. Finally, Legal & General Group Plc grew its holdings in shares of MercadoLibre by 3.6% during the 2nd quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock worth $531,755,000 after purchasing an additional 11,265 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

About MercadoLibre

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.