MercadoLibre, Inc. (NASDAQ:MELI – Get Rating) has received an average rating of “Moderate Buy” from the fourteen research firms that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $1,322.00.
Several equities analysts have recently weighed in on the stock. Credit Suisse Group decreased their price target on shares of MercadoLibre from $1,470.00 to $1,400.00 and set an “outperform” rating for the company in a research note on Monday, October 31st. Jefferies Financial Group decreased their price target on shares of MercadoLibre from $990.00 to $970.00 and set a “hold” rating for the company in a research note on Thursday, October 6th. StockNews.com started coverage on MercadoLibre in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Citigroup increased their price objective on MercadoLibre from $1,050.00 to $1,100.00 in a report on Friday.
Institutional Investors Weigh In On MercadoLibre
Hedge funds have recently added to or reduced their stakes in the business. Fiera Capital Corp lifted its holdings in MercadoLibre by 26.6% during the 2nd quarter. Fiera Capital Corp now owns 3,172 shares of the company’s stock valued at $2,020,000 after purchasing an additional 666 shares during the last quarter. Rafferty Asset Management LLC lifted its holdings in MercadoLibre by 80.9% during the 2nd quarter. Rafferty Asset Management LLC now owns 10,255 shares of the company’s stock valued at $6,531,000 after purchasing an additional 4,587 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in MercadoLibre by 24.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 54,996 shares of the company’s stock valued at $65,416,000 after purchasing an additional 10,771 shares during the last quarter. Illinois Municipal Retirement Fund lifted its holdings in MercadoLibre by 63.8% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 1,717 shares of the company’s stock valued at $1,094,000 after purchasing an additional 669 shares during the last quarter. Finally, Natixis lifted its holdings in MercadoLibre by 869.9% during the 2nd quarter. Natixis now owns 13,152 shares of the company’s stock valued at $8,377,000 after purchasing an additional 11,796 shares during the last quarter. Institutional investors and hedge funds own 80.49% of the company’s stock.
MercadoLibre Price Performance
Shares of MELI opened at $878.32 on Friday. The stock has a market capitalization of $44.17 billion, a P/E ratio of 163.56 and a beta of 1.53. MercadoLibre has a twelve month low of $600.68 and a twelve month high of $1,365.97. The company has a 50 day moving average of $899.19 and a 200-day moving average of $850.93. The company has a quick ratio of 1.31, a current ratio of 1.34 and a debt-to-equity ratio of 1.68.
MercadoLibre (NASDAQ:MELI – Get Rating) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.25. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.69 billion. MercadoLibre had a net margin of 2.80% and a return on equity of 17.11%. The business’s quarterly revenue was up 41.6% on a year-over-year basis. During the same period last year, the business earned $1.92 EPS. As a group, equities research analysts forecast that MercadoLibre will post 8.2 EPS for the current fiscal year.
MercadoLibre Company Profile
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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.
Further Reading
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