MercadoLibre, Inc. (NASDAQ:MELI) Receives $2,725.33 Average Price Target from Brokerages

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have earned an average rating of “Moderate Buy” from the nineteen analysts that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $2,708.6667.

A number of research firms have weighed in on MELI. Barclays reduced their price objective on shares of MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Cantor Fitzgerald cut their price target on shares of MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Morgan Stanley reduced their price target on shares of MercadoLibre from $2,800.00 to $2,600.00 and set an “overweight” rating for the company in a research report on Monday, March 9th. Wedbush decreased their price objective on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Finally, BTIG Research lowered their price objective on MercadoLibre from $2,650.00 to $2,400.00 and set a “buy” rating on the stock in a research report on Friday.

Institutional Investors Weigh In On MercadoLibre

Several institutional investors have recently modified their holdings of MELI. Lavaca Capital LLC raised its position in MercadoLibre by 140,201.3% in the 2nd quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock worth $2,786,888,000 after buying an additional 1,065,530 shares during the last quarter. Capital Research Global Investors grew its stake in shares of MercadoLibre by 22.5% in the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after acquiring an additional 408,939 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of MercadoLibre by 803.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 333,455 shares of the company’s stock worth $671,665,000 after acquiring an additional 296,543 shares during the period. Norges Bank purchased a new position in shares of MercadoLibre during the fourth quarter valued at approximately $597,045,000. Finally, Marshall Wace LLP raised its holdings in shares of MercadoLibre by 184.8% during the fourth quarter. Marshall Wace LLP now owns 311,818 shares of the company’s stock valued at $628,083,000 after purchasing an additional 202,322 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Trading Down 1.9%

NASDAQ MELI opened at $1,635.76 on Friday. MercadoLibre has a 12 month low of $1,631.18 and a 12 month high of $2,645.22. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The stock’s fifty day moving average price is $1,948.16 and its 200-day moving average price is $2,093.22. The stock has a market cap of $82.93 billion, a P/E ratio of 41.52, a P/E/G ratio of 0.82 and a beta of 1.48.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $11.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.66 by ($0.63). The company had revenue of $8.76 billion during the quarter, compared to analysts’ expectations of $8.45 billion. MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%.MercadoLibre’s revenue for the quarter was up 44.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $12.61 EPS. As a group, equities analysts forecast that MercadoLibre will post 43.96 EPS for the current fiscal year.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.