MercadoLibre, Inc. (NASDAQ:MELI) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $1,813.85.

Several brokerages have recently commented on MELI. Citigroup dropped their price target on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Barclays lowered their target price on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Susquehanna raised their target price on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. Finally, JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th.

MercadoLibre Stock Performance

Shares of MELI opened at $1,356.43 on Friday. The company’s fifty day moving average is $1,559.84 and its 200-day moving average is $1,523.45. MercadoLibre has a 12 month low of $1,063.02 and a 12 month high of $1,825.00. The firm has a market cap of $68.77 billion, a price-to-earnings ratio of 69.42, a price-to-earnings-growth ratio of 0.90 and a beta of 1.44. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.72.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $6.66 by ($3.41). MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same quarter last year, the company earned $3.25 EPS. The business’s revenue for the quarter was up 42.0% compared to the same quarter last year. Equities analysts expect that MercadoLibre will post 35.77 EPS for the current fiscal year.

Hedge Funds Weigh In On MercadoLibre

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Morgan Stanley lifted its holdings in shares of MercadoLibre by 10.2% during the 3rd quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock worth $3,243,832,000 after acquiring an additional 236,744 shares during the period. Jennison Associates LLC lifted its holdings in shares of MercadoLibre by 1.3% during the 3rd quarter. Jennison Associates LLC now owns 2,233,430 shares of the company’s stock worth $2,831,721,000 after acquiring an additional 28,095 shares during the period. WCM Investment Management LLC lifted its holdings in shares of MercadoLibre by 74.8% during the 4th quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock worth $1,838,964,000 after acquiring an additional 497,535 shares during the period. Capital International Investors lifted its holdings in shares of MercadoLibre by 0.4% during the 4th quarter. Capital International Investors now owns 1,037,070 shares of the company’s stock worth $1,630,740,000 after acquiring an additional 4,317 shares during the period. Finally, Capital World Investors lifted its holdings in shares of MercadoLibre by 13.3% during the 4th quarter. Capital World Investors now owns 750,720 shares of the company’s stock worth $1,179,787,000 after acquiring an additional 88,359 shares during the period. 87.62% of the stock is owned by institutional investors.

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.