MercadoLibre (NASDAQ:MELI) Research Coverage Started at Raymond James

Raymond James assumed coverage on shares of MercadoLibre (NASDAQ:MELI) in a research report released on Friday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $2,350.00 price objective on the stock.

Several other equities analysts also recently weighed in on MELI. JPMorgan Chase & Co. increased their target price on MercadoLibre from $2,150.00 to $2,400.00 and gave the stock an overweight rating in a research report on Tuesday, August 6th. Citigroup increased their target price on MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a buy rating in a research report on Thursday, August 15th. StockNews.com downgraded MercadoLibre from a buy rating to a hold rating in a research report on Saturday, August 10th. Bank of America increased their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a buy rating in a research report on Thursday, September 12th. Finally, Cantor Fitzgerald reiterated an overweight rating and set a $2,530.00 target price on shares of MercadoLibre in a research report on Monday, September 23rd. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $2,217.50.

MercadoLibre Stock Down 1.7 %

Shares of NASDAQ:MELI opened at $2,064.71 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. MercadoLibre has a 52-week low of $1,141.04 and a 52-week high of $2,161.73. The stock’s fifty day simple moving average is $1,932.91 and its 200-day simple moving average is $1,706.72. The company has a market capitalization of $104.67 billion, a P/E ratio of 92.38, a P/E/G ratio of 1.34 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The business had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the prior year, the business earned $5.16 earnings per share. The business’s revenue was up 41.5% on a year-over-year basis. As a group, equities research analysts forecast that MercadoLibre will post 35.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

Large investors have recently modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after buying an additional 16 shares in the last quarter. First PREMIER Bank acquired a new stake in shares of MercadoLibre in the first quarter valued at about $27,000. Financial Connections Group Inc. acquired a new stake in shares of MercadoLibre in the second quarter valued at about $36,000. Scarborough Advisors LLC acquired a new stake in shares of MercadoLibre in the fourth quarter valued at about $36,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of MercadoLibre in the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

About MercadoLibre

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.