MercadoLibre, Inc. (NASDAQ:MELI) Given Average Rating of "Moderate Buy" by Brokerages

MercadoLibre, Inc. (NASDAQ:MELI - Get Free Report) has been given an average rating of "Moderate Buy" by the seventeen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $2,817.2222.

A number of equities analysts have issued reports on the company. Barclays decreased their price target on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Raymond James Financial reissued a "strong-buy" rating and set a $2,750.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Citigroup decreased their target price on shares of MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating for the company in a research note on Monday, August 18th. Scotiabank began coverage on shares of MercadoLibre in a research note on Monday, July 28th. They issued a "sector outperform" rating and a $3,500.00 price objective for the company. Finally, Susquehanna reaffirmed a "positive" rating and issued a $2,975.00 price objective (up previously from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Optimize Financial Inc boosted its position in shares of MercadoLibre by 1.7% during the 1st quarter. Optimize Financial Inc now owns 238 shares of the company's stock valued at $464,000 after acquiring an additional 4 shares in the last quarter. Formidable Asset Management LLC lifted its position in shares of MercadoLibre by 3.2% during the fourth quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock worth $272,000 after purchasing an additional 5 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in shares of MercadoLibre by 4.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock worth $201,000 after purchasing an additional 5 shares in the last quarter. Sonora Investment Management Group LLC lifted its position in shares of MercadoLibre by 3.1% during the first quarter. Sonora Investment Management Group LLC now owns 168 shares of the company's stock worth $328,000 after purchasing an additional 5 shares in the last quarter. Finally, Beacon Capital Management LLC lifted its position in shares of MercadoLibre by 8.3% during the first quarter. Beacon Capital Management LLC now owns 65 shares of the company's stock worth $127,000 after purchasing an additional 5 shares in the last quarter. Institutional investors own 87.62% of the company's stock.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,452.34 on Friday. The stock has a market cap of $124.33 billion, a price-to-earnings ratio of 60.57, a PEG ratio of 1.61 and a beta of 1.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. MercadoLibre has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The stock's 50 day moving average price is $2,382.11 and its 200 day moving average price is $2,316.57.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). The firm had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business's revenue for the quarter was up 33.8% compared to the same quarter last year. During the same period in the previous year, the business posted $10.48 earnings per share. Equities research analysts anticipate that MercadoLibre will post 43.96 earnings per share for the current fiscal year.

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.

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