Morgan Stanley Raises MercadoLibre (NASDAQ:MELI) Price Target to $2,500.00

MercadoLibre (NASDAQ:MELI) had its price objective upped by Morgan Stanley from $2,175.00 to $2,500.00 in a research report sent to investors on Friday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research firms have also issued reports on MELI. Bank of America upped their price target 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. Barclays boosted their price objective on MercadoLibre from $2,000.00 to $2,100.00 and gave the company an overweight rating in a research report on Tuesday, August 6th. The Goldman Sachs Group raised their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a buy rating in a report on Thursday, August 8th. Susquehanna increased their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a positive rating in a research report on Wednesday, August 28th. Finally, Dbs Bank raised MercadoLibre from a hold rating to a strong-buy rating in a research note on Thursday, July 11th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $2,207.31.

MercadoLibre Price Performance

MELI opened at $2,103.75 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $106.65 billion, a P/E ratio of 94.13, a PEG ratio of 1.33 and a beta of 1.61. The stock has a 50-day moving average price of $1,899.17 and a 200-day moving average price of $1,692.71. MercadoLibre has a 12-month low of $1,141.04 and a 12-month high of $2,157.64.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $1.95. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. MercadoLibre’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.16 earnings per share. Equities analysts predict that MercadoLibre will post 35.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

A number of institutional investors have recently modified their holdings of MELI. GQG Partners LLC boosted its stake in MercadoLibre by 442.2% in the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after purchasing an additional 648,198 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of MercadoLibre by 43.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after buying an additional 232,787 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of MercadoLibre during the second quarter valued at approximately $2,913,000. Janus Henderson Group PLC raised its holdings in 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 last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of MercadoLibre by 1,432.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 127,355 shares of the company’s stock worth $200,140,000 after purchasing an additional 119,043 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

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.