MercadoLibre’s (MELI) “Outperform” Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of MercadoLibre (NASDAQ:MELI) in a research note published on Friday morning, Benzinga reports. They currently have a $1,800.00 price objective on the stock.

MELI has been the subject of several other reports. Barclays decreased their target price on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an overweight rating for the company in a research note on Wednesday, April 3rd. Citigroup lowered their target price on MercadoLibre from $1,990.00 to $1,940.00 and set a buy rating for the company in a research note on Wednesday, March 27th. JPMorgan Chase & Co. boosted their price target on MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an overweight rating in a research note on Tuesday, February 27th. DZ Bank raised MercadoLibre from a hold rating to a buy rating and set a $1,685.00 price target for the company in a report on Tuesday, April 23rd. Finally, StockNews.com downgraded MercadoLibre from a buy rating to a hold rating in a report on Thursday, February 29th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $1,805.00.

MercadoLibre Trading Up 1.4 %

MELI stock traded up $23.29 during midday trading on Friday, reaching $1,653.85. 589,142 shares of the company’s stock traded hands, compared to its average volume of 404,863. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24. The company has a market capitalization of $83.85 billion, a P/E ratio of 72.96, a PEG ratio of 1.09 and a beta of 1.45. The business has a 50-day moving average price of $1,499.29 and a two-hundred day moving average price of $1,542.15. MercadoLibre has a fifty-two week low of $1,063.02 and a fifty-two week high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.64 by $0.14. The business had revenue of $4.33 billion during the quarter, compared to analyst estimates of $3.84 billion. MercadoLibre had a return on equity of 42.04% and a net margin of 7.17%. The company’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same quarter last year, the firm earned $3.97 earnings per share. Equities research analysts forecast that MercadoLibre will post 34.46 EPS for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

Institutional investors have recently modified their holdings of the business. Advisory Services Network LLC lifted its holdings in MercadoLibre by 1.9% in the first quarter. Advisory Services Network LLC now owns 3,731 shares of the company’s stock worth $5,641,000 after acquiring an additional 71 shares during the last quarter. Mitchell Capital Management Co. lifted its holdings in shares of MercadoLibre by 6.1% in the 1st quarter. Mitchell Capital Management Co. now owns 1,300 shares of the company’s stock worth $1,966,000 after purchasing an additional 75 shares during the last quarter. Howland Capital Management LLC boosted its position in MercadoLibre by 2.2% during the 1st quarter. Howland Capital Management LLC now owns 16,420 shares of the company’s stock valued at $24,826,000 after purchasing an additional 353 shares during the period. WBI Investments LLC bought a new position in MercadoLibre during the 1st quarter worth $209,000. Finally, Team Hewins LLC acquired a new stake in MercadoLibre in the first quarter worth $319,000. Institutional investors own 87.62% of the company’s stock.

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.