MercadoLibre’s (MELI) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of MercadoLibre (NASDAQ:MELI) in a report released on Monday morning, Benzinga reports. They currently have a $2,530.00 price objective on the stock.

Several other research analysts also recently weighed in on the stock. Barclays boosted their target price on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the company an overweight rating in a research note on Tuesday, August 6th. BTIG Research upped their price objective on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a buy rating in a research note on Wednesday, August 21st. The Goldman Sachs Group lifted their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a buy rating in a research note on Thursday, August 8th. StockNews.com lowered MercadoLibre from a buy rating to a hold rating in a research note on Saturday, August 10th. Finally, Bank of America lifted their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a buy rating in a research report on Thursday, September 12th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, MercadoLibre presently has an average rating of Moderate Buy and an average target price of $2,207.31.

MercadoLibre Stock Performance

Shares of MELI opened at $2,100.21 on Monday. The company has a 50-day moving average of $1,923.38 and a two-hundred day moving average of $1,703.97. The stock has a market cap of $106.47 billion, a P/E ratio of 94.74, a PEG ratio of 1.34 and a beta of 1.61. MercadoLibre has a 12-month low of $1,141.04 and a 12-month high of $2,161.73. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data 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 firm had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.16 EPS. As a group, research analysts predict that MercadoLibre will post 35.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. First PREMIER Bank purchased a new position in shares of MercadoLibre in the 1st quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. raised its position in MercadoLibre by 1,600.0% in the second 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 period. Scarborough Advisors LLC acquired a new position in shares of MercadoLibre during the fourth quarter worth about $36,000. Financial Connections Group Inc. purchased a new stake in shares of MercadoLibre in the second quarter worth about $36,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of MercadoLibre in the fourth quarter valued at about $38,000. 87.62% of the stock is owned by institutional investors and hedge funds.

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.