MercadoLibre, Inc. (NASDAQ:MELI) Stock Has Consensus Target Price of $2,251.88

Key Points

• Analysts maintain a “Moderate Buy” consensus on MercadoLibre, with 12 buy ratings and six holds among 18 brokerages. The average 12-month price target is $2,251.88, although several firms recently adjusted their targets.
• MercadoLibre shares opened at $1,810.15, with a 52-week range of $1,495 to $2,428 and a market capitalization of approximately $91.77 billion.
• The company’s latest quarterly results exceeded expectations, reporting $9.19 in earnings per share and $10.17 billion in revenue; revenue increased 49.8% year over year. Institutional investors own approximately 87.62% of the stock.

MercadoLibre, Inc. (NASDAQ:MELI - Get Free Report) has received an average recommendation of "Moderate Buy" from the eighteen brokerages that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $2,251.88.

A number of brokerages have commented on MELI. Citigroup dropped their price objective on shares of MercadoLibre from $2,150.00 to $2,100.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 13th. JPMorgan Chase & Co. raised their price objective on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a "neutral" rating in a report on Tuesday, August 11th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of MercadoLibre in a research report on Tuesday, September 29th. BTIG Research reiterated a "buy" rating and set a $2,150.00 target price on shares of MercadoLibre in a research note on Thursday, September 3rd. Finally, Cantor Fitzgerald dropped their target price on MercadoLibre from $2,300.00 to $2,200.00 and set an "overweight" rating on the stock in a report on Monday, October 12th.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $1,810.15 on Friday. The business has a 50-day simple moving average of $1,862.02 and a 200-day simple moving average of $1,788.72. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. MercadoLibre has a one year low of $1,495.00 and a one year high of $2,428.00. The company has a market cap of $91.77 billion, a PE ratio of 49.23, a P/E/G ratio of 1.27 and a beta of 1.31.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $9.19 earnings per share 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 for the quarter, compared to analysts' expectations of $9.79 billion. During the same quarter last year, the company earned $10.31 earnings per share. The firm's revenue was up 49.8% compared to the same quarter last year. On average, equities research analysts forecast that MercadoLibre will post 38.09 EPS for the current fiscal year.

Institutional Trading of MercadoLibre

A number of institutional investors have recently bought and sold shares of MELI. Kingswood Wealth Advisors LLC boosted its holdings in MercadoLibre by 16.6% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 365 shares of the company's stock valued at $631,000 after purchasing an additional 52 shares in the last quarter. Signaturefd LLC increased its position in MercadoLibre by 12.3% during the 3rd quarter. Signaturefd LLC now owns 174 shares of the company's stock worth $300,000 after purchasing an additional 19 shares during the period. Citizens Financial Group Inc. RI increased its position in MercadoLibre by 26.6% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 447 shares of the company's stock worth $773,000 after purchasing an additional 94 shares during the period. Simplicity Wealth LLC increased its position in MercadoLibre by 2.9% during the 3rd quarter. Simplicity Wealth LLC now owns 287 shares of the company's stock worth $496,000 after purchasing an additional 8 shares during the period. Finally, Sowell Financial Services LLC raised its stake in shares of MercadoLibre by 1.1% during the 3rd quarter. Sowell Financial Services LLC now owns 542 shares of the company's stock worth $937,000 after buying an additional 6 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Company Profile

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company initially developed an online marketplace and has expanded into a broad platform connecting buyers and sellers with businesses and consumers.

Its commerce operations include the MercadoLibre marketplace, where users can purchase and sell products across numerous categories. The company also offers supporting services such as Mercado Envíos for shipping and logistics, Mercado Ads for digital advertising, and tools for merchants to manage their online businesses.

MercadoLibre's financial technology business is centered on Mercado Pago, which provides digital payment processing, online checkout, money transfer and account services.

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