MercadoLibre, Inc. (NASDAQ:MELI) Stock Has Average Price Target of $2,283.12 According to Brokerages

MercadoLibre, Inc. (NASDAQ:MELI) has earned an average rating of “Moderate Buy” from the eighteen research firms that are presently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $2,283.12.

MELI has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their target price on MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. BTIG Research reiterated a “buy” rating and set a $2,150.00 price objective on shares of MercadoLibre in a research note on Thursday, September 3rd. Cantor Fitzgerald lifted their price objective on MercadoLibre from $2,150.00 to $2,300.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. New Street Research initiated coverage on shares of MercadoLibre in a research note on Wednesday, September 23rd. They issued a “buy” rating and a $2,450.00 target price on the stock. Finally, Citigroup upped their target price on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th.

Hedge Funds Weigh In On MercadoLibre

Several institutional investors have recently modified their holdings of the stock. Capital Research Global Investors raised its holdings in 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 purchasing an additional 408,939 shares during the period. Capital International Investors increased its position in shares of MercadoLibre by 7.3% in the 4th quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock valued at $3,474,880,000 after buying an additional 118,018 shares in the last quarter. BlackRock Inc. bought a new position in MercadoLibre during the second quarter worth about $2,246,015,000. Janus Henderson Group PLC lifted its holdings in MercadoLibre by 26.4% during the fourth quarter. Janus Henderson Group PLC now owns 604,096 shares of the company’s stock worth $1,216,807,000 after acquiring an additional 126,294 shares in the last quarter. Finally, Linonia Partnership LP increased its holdings in shares of MercadoLibre by 325.1% in the second quarter. Linonia Partnership LP now owns 553,788 shares of the company’s stock worth $939,994,000 after acquiring an additional 423,527 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Up 0.7%

MELI opened at $1,696.56 on Wednesday. The company has a market capitalization of $86.02 billion, a P/E ratio of 46.14, a P/E/G ratio of 1.15 and a beta of 1.31. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The firm’s fifty day moving average price is $1,863.81 and its two-hundred day moving average price is $1,769.51. MercadoLibre has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,428.00.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, August 6th. The company reported $9.19 EPS for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The firm’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same period last year, the firm earned $10.31 EPS. On average, analysts anticipate that MercadoLibre will post 39.11 EPS for the current year.

MercadoLibre Company Profile

MercadoLibre, Inc (NASDAQ:MELI) operates a technology platform serving commerce and financial-services customers across Latin America. Its online marketplace connects buyers and sellers, offering products across categories including electronics, apparel, home goods, automotive products and consumer packaged goods.

The company also provides a range of supporting services, including Mercado Pago, a digital payments platform that enables online and in-person transactions, money transfers and other financial services.