MercadoLibre, Inc. (NASDAQ:MELI) Receives Average Rating of “Buy” from Brokerages

MercadoLibre, Inc. (NASDAQ:MELI) has been assigned a consensus recommendation of “Buy” from the thirteen brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $1,922.08.

Several research analysts recently weighed in on the stock. UBS Group dropped their price objective on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Barclays upped their price target on MercadoLibre from $1,800.00 to $2,000.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. New Street Research cut MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $1,800.00 target price on shares of MercadoLibre in a research note on Friday, May 3rd.

Hedge Funds Weigh In On MercadoLibre

Institutional investors and hedge funds have recently modified their holdings of the business. GQG Partners LLC boosted its holdings in shares of MercadoLibre by 442.2% in the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after buying an additional 648,198 shares during the period. WCM Investment Management LLC raised its holdings in shares of MercadoLibre by 74.8% in the fourth quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock valued at $1,838,964,000 after purchasing an additional 497,535 shares during the last quarter. Norges Bank bought a new stake in shares of MercadoLibre in the fourth quarter worth $554,386,000. Price T Rowe Associates Inc. MD boosted its holdings 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 purchasing an additional 232,787 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in MercadoLibre by 112,333.8% in the fourth quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock valued at $229,703,000 after purchasing an additional 146,034 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

MercadoLibre stock opened at $1,651.69 on Monday. The stock has a 50-day simple moving average of $1,654.99 and a 200 day simple moving average of $1,619.18. The stock has a market capitalization of $83.74 billion, a price-to-earnings ratio of 73.90, a P/E/G ratio of 1.22 and a beta of 1.60. The company has a quick ratio of 1.25, a current ratio of 1.27 and a debt-to-equity ratio of 0.66. MercadoLibre has a 12-month low of $1,141.04 and a 12-month high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $6.78 earnings per share for the quarter, beating the consensus estimate of $6.64 by $0.14. MercadoLibre had a net margin of 7.17% and a return on equity of 39.46%. The firm had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter last year, the company posted $3.97 EPS. The company’s quarterly revenue was up 36.0% compared to the same quarter last year. On average, research analysts anticipate that MercadoLibre will post 33.38 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.