BTIG Research Reiterates Buy Rating for MercadoLibre (NASDAQ:MELI)

Key Points

• BTIG Research reiterated its Buy rating on MercadoLibre and set a $2,150 price target, implying 7.15% upside from the prior close.
• Analyst sentiment remains favorable overall, with 11 Buy ratings and six Holds producing a consensus “Moderate Buy” rating and an average price target of $2,272.
• MercadoLibre reported quarterly EPS of $9.19 and revenue of $10.17 billion, exceeding analyst estimates; revenue increased 49.8% year over year. Institutional investors own 87.62% of the company.

MercadoLibre (NASDAQ:MELI - Get Free Report)'s stock had its "buy" rating restated by stock analysts at BTIG Research in a research report issued on Thursday, Benzinga reports. They currently have a $2,150.00 price target on the stock. BTIG Research's price objective would suggest a potential upside of 7.15% from the stock's previous close.

Several other analysts have also commented on MELI. Daiwa Securities Group lowered shares of MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 price target on the stock. in a research report on Friday, May 8th. Scotiabank reduced their target price on MercadoLibre from $3,500.00 to $2,800.00 and set a "sector outperform" rating for the company in a research note on Thursday, May 7th. UBS Group dropped their price target on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a "neutral" rating for the company in a research note on Wednesday, May 13th. Raymond James Financial set a $2,000.00 target price on shares of MercadoLibre in a research report on Friday, May 8th. Finally, Citigroup increased their price target on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $2,272.00.

MercadoLibre Trading Up 2.2%

MELI opened at $2,006.58 on Thursday. The stock has a market capitalization of $101.73 billion, a PE ratio of 54.57, a P/E/G ratio of 1.35 and a beta of 1.31. MercadoLibre has a one year low of $1,495.00 and a one year high of $2,548.50. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. The business's 50 day moving average price is $1,845.93 and its 200 day moving average price is $1,769.50.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, beating the consensus estimate of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter in the prior year, the company posted $10.31 earnings per share. MercadoLibre's revenue for the quarter was up 49.8% compared to the same quarter last year. As a group, equities research analysts expect that MercadoLibre will post 39.11 EPS for the current year.

Institutional Trading of MercadoLibre

Several hedge funds and other institutional investors have recently modified their holdings of MELI. Bison Wealth LLC purchased a new stake in shares of MercadoLibre during the 4th quarter worth about $206,000. Empowered Funds LLC grew its stake in shares of MercadoLibre by 6.9% in the 1st quarter. Empowered Funds LLC now owns 760 shares of the company's stock valued at $1,483,000 after buying an additional 49 shares in the last quarter. Focus Partners Wealth increased its holdings in MercadoLibre by 42.0% in the first quarter. Focus Partners Wealth now owns 602 shares of the company's stock worth $1,176,000 after buying an additional 178 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in MercadoLibre in the second quarter worth approximately $261,000. Finally, Gamco Investors INC. ET AL raised its position in MercadoLibre by 21.4% during the second quarter. Gamco Investors INC. ET AL now owns 170 shares of the company's stock valued at $444,000 after acquiring an additional 30 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.

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