MercadoLibre, Inc. (NASDAQ:MELI) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• MercadoLibre has a “Moderate Buy” consensus rating from 17 analysts, with 11 buys and six holds. The average 12-month price target is $2,272.
• The company exceeded quarterly expectations, reporting EPS of $9.19 versus $8.65 expected and revenue of $10.17 billion, up 49.8% year over year.
• Shares opened at $1,978.36, while institutional investors and hedge funds own 87.62% of the stock. Recent analyst actions were mixed, with some firms lowering targets and others raising them.

Shares of MercadoLibre, Inc. (NASDAQ:MELI - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the seventeen research firms that are presently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $2,272.00.

MELI has been the subject of a number of research analyst reports. Daiwa Securities Group cut shares of MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 price objective for the company. in a research report on Friday, May 8th. UBS Group decreased their target price 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. Cantor Fitzgerald raised their price target on MercadoLibre from $2,150.00 to $2,300.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Benchmark lowered their target price on MercadoLibre from $2,780.00 to $2,380.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Finally, Zacks Research raised shares of MercadoLibre from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th.

MercadoLibre Trading Down 0.6%

Shares of MercadoLibre stock opened at $1,978.36 on Friday. The firm's 50 day simple moving average is $1,859.43 and its two-hundred day simple moving average is $1,770.98. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $100.30 billion, a price-to-earnings ratio of 53.80, a PEG ratio of 1.36 and a beta of 1.31. MercadoLibre has a 12-month low of $1,495.00 and a 12-month high of $2,548.50.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Cornerstone Select Advisors LLC raised its holdings in shares of MercadoLibre by 2.9% during the fourth quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company's stock worth $355,000 after purchasing an additional 5 shares during the period. Mitchell Capital Management Co. raised its stake in shares of MercadoLibre by 0.4% in the 4th quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company's stock worth $2,542,000 after buying an additional 5 shares in the last quarter. Strategic Advisors LLC grew its position in MercadoLibre by 0.4% in the fourth quarter. Strategic Advisors LLC now owns 1,273 shares of the company's stock worth $2,564,000 after buying an additional 5 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC increased its position in shares of MercadoLibre by 2.0% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company's stock worth $605,000 after acquiring an additional 5 shares in the last quarter. Finally, Beese Fulmer Investment Management Inc. lifted its stake in MercadoLibre by 2.7% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 229 shares of the company's stock worth $461,000 after acquiring an additional 6 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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