MercadoLibre (NASDAQ:MELI) Price Target Raised to $2,025.00

MercadoLibre (NASDAQ:MELI) had its target price increased by BTIG Research from $1,885.00 to $2,025.00 in a report released on Friday morning, Benzinga reports. BTIG Research currently has a buy rating on the stock.

A number of other research analysts also recently weighed in on MELI. DZ Bank raised shares of MercadoLibre from a hold rating to a buy rating and set a $1,685.00 target price for the company in a research report on Tuesday, April 23rd. Barclays lifted their price objective on shares of MercadoLibre from $1,800.00 to $2,000.00 and gave the stock an overweight rating in a research note on Monday, May 13th. New Street Research cut MercadoLibre from a buy rating to a neutral rating in a research note on Friday, May 24th. Wedbush restated an outperform rating and issued a $1,800.00 target price on shares of MercadoLibre in a research report on Friday, May 3rd. Finally, Jefferies Financial Group upgraded shares of MercadoLibre from a hold rating to a buy rating and lifted their target price for the stock from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Buy and an average target price of $1,944.17.

MercadoLibre Trading Down 0.0 %

MELI opened at $1,776.00 on Friday. The firm’s fifty day moving average is $1,647.02 and its two-hundred day moving average is $1,620.22. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.25 and a current ratio of 1.27. The firm has a market cap of $90.04 billion, a PE ratio of 79.46, a price-to-earnings-growth ratio of 1.13 and a beta of 1.60. MercadoLibre has a twelve month low of $1,141.04 and a twelve month high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 45.61%. The business had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same period last year, the business posted $5.16 earnings per share. The firm’s quarterly revenue was up 41.5% on a year-over-year basis. Equities research analysts anticipate that MercadoLibre will post 33.4 EPS for the current year.

Hedge Funds Weigh In On MercadoLibre

A number of hedge funds have recently modified their holdings of MELI. Migdal Insurance & Financial Holdings Ltd. raised its position in MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after purchasing an additional 16 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of MercadoLibre in the 4th quarter worth about $28,000. First PREMIER Bank bought a new stake in shares of MercadoLibre during the 1st quarter valued at about $27,000. Archer Investment Corp purchased a new position in shares of MercadoLibre during the fourth quarter valued at about $31,000. Finally, Financial Connections Group Inc. bought a new position in MercadoLibre in the second quarter worth about $36,000. Hedge funds and other institutional investors 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.