MercadoLibre (NASDAQ:MELI) Research Coverage Started at Raymond James

Raymond James started coverage on shares of MercadoLibre (NASDAQ:MELI) in a research report released on Friday morning, MarketBeat reports. The brokerage issued an outperform rating and a $2,350.00 price target on the stock.

Several other equities research analysts also recently weighed in on MELI. Citigroup increased their price target on MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a buy rating in a report on Thursday, August 15th. Barclays increased their target price on MercadoLibre from $2,000.00 to $2,100.00 and gave the stock an overweight rating in a research note on Tuesday, August 6th. Dbs Bank upgraded MercadoLibre from a hold rating to a strong-buy rating in a research note on Thursday, July 11th. Bank of America increased their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a buy rating in a research report on Thursday, September 12th. Finally, StockNews.com lowered shares of MercadoLibre from a buy rating to a hold rating in a research report on Saturday, August 10th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $2,217.50.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,051.96 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. MercadoLibre has a fifty-two week low of $1,141.04 and a fifty-two week high of $2,161.73. The stock’s 50-day simple moving average is $1,948.50 and its 200-day simple moving average is $1,716.05. The firm has a market capitalization of $104.03 billion, a PE ratio of 91.81, a price-to-earnings-growth ratio of 1.34 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The business had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The business’s revenue was up 41.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.16 earnings per share. As a group, equities research analysts forecast that MercadoLibre will post 35.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MELI. First PREMIER Bank acquired a new stake in shares of MercadoLibre in the first quarter worth approximately $27,000. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after acquiring an additional 16 shares in the last quarter. Scarborough Advisors LLC acquired a new position in MercadoLibre in the fourth quarter worth $36,000. Financial Connections Group Inc. bought a new stake in shares of MercadoLibre during the 2nd quarter valued at about $36,000. Finally, Transcendent Capital Group LLC bought a new position in shares of MercadoLibre during the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds 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.