Analysts Set MercadoLibre, Inc. (NASDAQ:MELI) Target Price at $2,402.81

MercadoLibre, Inc. (NASDAQ:MELI) has been assigned an average recommendation of “Buy” from the seventeen ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, fourteen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $2,402.81.

MELI has been the subject of several recent analyst reports. Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price for the company in a report on Tuesday, January 21st. The Goldman Sachs Group upped their price objective on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Cantor Fitzgerald lifted their target price on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Wedbush lowered their price target on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Finally, Barclays lifted their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Friday, February 21st.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MELI. Capital Research Global Investors raised its holdings in MercadoLibre by 8.0% in the 4th quarter. Capital Research Global Investors now owns 2,415,815 shares of the company’s stock worth $4,108,079,000 after purchasing an additional 179,807 shares during the period. Capital International Investors raised its stake in shares of MercadoLibre by 38.7% in the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company’s stock worth $2,868,869,000 after buying an additional 470,829 shares during the period. Capital World Investors lifted its position in shares of MercadoLibre by 24.5% during the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company’s stock valued at $2,667,386,000 after buying an additional 308,973 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of MercadoLibre by 41.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company’s stock valued at $2,370,848,000 after acquiring an additional 405,425 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in MercadoLibre by 0.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 545,292 shares of the company’s stock worth $927,239,000 after acquiring an additional 2,048 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MercadoLibre stock opened at $1,934.03 on Friday. MercadoLibre has a twelve month low of $1,324.99 and a twelve month high of $2,374.54. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $98.05 billion, a P/E ratio of 51.30, a PEG ratio of 1.12 and a beta of 1.64. The stock’s 50 day moving average is $2,034.60 and its 200 day moving average is $1,970.61.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. The firm had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. On average, equities research analysts predict that MercadoLibre will post 43.96 earnings per share for the current fiscal year.

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.