MercadoLibre (NASDAQ:MELI – Get Rating) had its price target hoisted by equities researchers at BTIG Research from $1,130.00 to $1,245.00 in a report released on Friday, The Fly reports. BTIG Research’s target price would indicate a potential upside of 21.55% from the stock’s current price.
A number of other research analysts also recently issued reports on the stock. Credit Suisse Group cut their price objective on shares of MercadoLibre from $1,470.00 to $1,400.00 and set an “outperform” rating on the stock in a research report on Monday, October 31st. StockNews.com assumed coverage on MercadoLibre in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Jefferies Financial Group lowered their price target on MercadoLibre from $990.00 to $970.00 and set a “hold” rating for the company in a report on Thursday, October 6th. Finally, Citigroup increased their price objective on shares of MercadoLibre from $1,050.00 to $1,100.00 in a research report on Friday, December 23rd. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,291.50.
MercadoLibre Stock Up 9.3 %
Shares of MercadoLibre stock opened at $1,024.31 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.34 and a quick ratio of 1.31. The stock has a market cap of $51.52 billion, a price-to-earnings ratio of 190.75 and a beta of 1.53. The firm’s 50-day moving average is $905.76 and its two-hundred day moving average is $869.06. MercadoLibre has a 1 year low of $600.68 and a 1 year high of $1,275.82.
MercadoLibre (NASDAQ:MELI – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.25. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.69 billion. MercadoLibre had a net margin of 2.80% and a return on equity of 17.11%. MercadoLibre’s revenue was up 41.6% compared to the same quarter last year. During the same period last year, the company posted $1.92 earnings per share. As a group, research analysts expect that MercadoLibre will post 8.2 earnings per share for the current fiscal year.
Institutional Trading of MercadoLibre
Hedge funds and other institutional investors have recently made changes to their positions in the business. Fiera Capital Corp grew its position in MercadoLibre by 26.6% during the 2nd quarter. Fiera Capital Corp now owns 3,172 shares of the company’s stock worth $2,020,000 after purchasing an additional 666 shares during the period. Rafferty Asset Management LLC boosted its position in MercadoLibre by 80.9% in the 2nd quarter. Rafferty Asset Management LLC now owns 10,255 shares of the company’s stock worth $6,531,000 after purchasing an additional 4,587 shares in the last quarter. Illinois Municipal Retirement Fund grew its stake in shares of MercadoLibre by 63.8% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 1,717 shares of the company’s stock worth $1,094,000 after purchasing an additional 669 shares during the period. Natixis grew its stake in shares of MercadoLibre by 869.9% during the 2nd quarter. Natixis now owns 13,152 shares of the company’s stock worth $8,377,000 after purchasing an additional 11,796 shares during the period. Finally, Bender Robert & Associates lifted its stake in shares of MercadoLibre by 0.8% in the 3rd quarter. Bender Robert & Associates now owns 14,469 shares of the company’s stock valued at $11,977,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 80.49% of the company’s stock.
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.
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