MercadoLibre, Inc. (NASDAQ:MELI) Receives $2,402.81 Average Price Target from Brokerages

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have been given an average rating of “Buy” by the seventeen research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $2,402.81.

Several brokerages have recently weighed in on MELI. JPMorgan Chase & Co. increased their price objective on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Morgan Stanley cut their price objective on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and raised their target price for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Citigroup reduced their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Finally, Wedbush cut their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research note on Monday, January 6th.

MercadoLibre Trading Down 3.2 %

Shares of NASDAQ:MELI opened at $1,944.61 on Tuesday. MercadoLibre has a 1 year low of $1,324.99 and a 1 year high of $2,374.54. The stock’s fifty day moving average price is $1,946.86 and its 200-day moving average price is $1,969.34. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The company has a market cap of $98.59 billion, a P/E ratio of 51.58, a PEG ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI) last posted 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 business had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. Sell-side analysts expect that MercadoLibre will post 43.96 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio purchased a new position in shares of MercadoLibre during the third quarter worth approximately $114,417,000. Principal Financial Group Inc. increased its holdings in MercadoLibre by 20.9% during the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock worth $121,948,000 after purchasing an additional 10,272 shares during the period. KBC Group NV raised its position in MercadoLibre by 205.5% during the 3rd quarter. KBC Group NV now owns 26,279 shares of the company’s stock valued at $53,923,000 after purchasing an additional 17,677 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of MercadoLibre by 37.8% in the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock worth $271,897,000 after buying an additional 43,215 shares during the period. Finally, Oppenheimer & Co. Inc. grew its position in shares of MercadoLibre by 11.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company’s stock worth $2,328,000 after buying an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

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.