Analysts Set MercadoLibre, Inc. (NASDAQ:MELI) Price Target at $2,141.25

MercadoLibre, Inc. (NASDAQ:MELI) has been given an average rating of “Buy” by the fourteen ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $2,182.92.

A number of brokerages recently weighed in on MELI. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. The Goldman Sachs Group increased their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Bank of America lifted their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday. JPMorgan Chase & Co. increased their price objective on MercadoLibre from $2,150.00 to $2,400.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Finally, Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and raised their target price for the stock from $1,400.00 to $2,100.00 in a research report on Monday, May 20th.

Institutional Trading of MercadoLibre

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GQG Partners LLC grew its position in shares of MercadoLibre by 442.2% during the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after purchasing an additional 648,198 shares in the last quarter. Norges Bank bought a new stake in MercadoLibre during the fourth quarter valued at $554,386,000. Price T Rowe Associates Inc. MD grew its position in MercadoLibre by 43.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after buying an additional 232,787 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in MercadoLibre in the 2nd quarter worth about $2,913,000. Finally, Janus Henderson Group PLC raised its holdings in shares of MercadoLibre by 55.8% in the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after acquiring an additional 132,028 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Up 4.6 %

NASDAQ:MELI opened at $2,140.10 on Tuesday. MercadoLibre has a 52 week low of $1,141.04 and a 52 week high of $2,142.59. The firm has a 50-day moving average price of $1,851.57 and a two-hundred day moving average price of $1,669.20. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The firm has a market cap of $108.50 billion, a price-to-earnings ratio of 95.75, a price-to-earnings-growth ratio of 1.29 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the business posted $5.16 earnings per share. MercadoLibre’s revenue was up 41.5% on a year-over-year basis. On average, equities analysts expect that MercadoLibre will post 35.22 earnings per share for the current fiscal year.

MercadoLibre Company Profile

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.