MercadoLibre, Inc. (NASDAQ:MELI) Receives $2,690.29 Average Price Target from Brokerages

Key Points

• MercadoLibre, Inc. has received a consensus recommendation of "Moderate Buy" from analysts, with 12 out of 16 recommending a buy or strong buy.
• The current average 1-year target price for MercadoLibre shares is $2,690.29, while recent price targets by various brokerages range from $2,250.00 to $3,000.00.
• Institutional investors own 87.62% of MercadoLibre's stock, indicating significant confidence and investment in the company.

MercadoLibre, Inc. (NASDAQ:MELI - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the seventeen ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $2,707.50.

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. increased their target price on MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Cantor Fitzgerald cut their target price on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 11th. Daiwa Capital Markets assumed coverage on MercadoLibre in a research note on Friday. They issued a "buy" rating and a $3,000.00 target price on the stock. Scotiabank assumed coverage on MercadoLibre in a research note on Monday. They issued a "sector outperform" rating and a $3,500.00 target price on the stock. Finally, Wall Street Zen cut MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MELI. Key Financial Inc purchased a new position in MercadoLibre in the first quarter worth about $25,000. GW&K Investment Management LLC bought a new position in shares of MercadoLibre in the first quarter worth about $25,000. Park Square Financial Group LLC bought a new position in shares of MercadoLibre in the fourth quarter worth about $26,000. Covestor Ltd bought a new position in shares of MercadoLibre in the fourth quarter worth about $27,000. Finally, Close Asset Management Ltd raised its stake in shares of MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after buying an additional 11 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 0.1%

MELI traded up $2.03 during trading on Friday, reaching $2,375.92. The stock had a trading volume of 375,200 shares, compared to its average volume of 256,589. The stock's 50 day moving average is $2,458.47 and its two-hundred day moving average is $2,219.50. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $120.46 billion, a price-to-earnings ratio of 58.43, a P/E/G ratio of 1.41 and a beta of 1.46. MercadoLibre has a one year low of $1,646.00 and a one year high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The firm's quarterly revenue was up 37.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.78 earnings per share. As a group, analysts expect that MercadoLibre will post 43.96 earnings per share for the current year.

About MercadoLibre

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.