Analysts Set MercadoLibre, Inc. (NASDAQ:MELI) PT at $2,632.50

Shares of MercadoLibre, Inc. (NASDAQ:MELI - Get Free Report) have earned an average rating of "Moderate Buy" from the sixteen brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $2,632.50.

A number of analysts have weighed in on MELI shares. Susquehanna raised their price objective on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a research note on Friday, February 21st. JPMorgan Chase & Co. increased their price target on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. The Goldman Sachs Group boosted their price objective on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Bank of America boosted their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Finally, 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.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MELI. Key Financial Inc acquired a new position in shares of MercadoLibre in the 1st quarter valued at $25,000. GW&K Investment Management LLC acquired a new position in shares of MercadoLibre during the first quarter worth $25,000. Close Asset Management Ltd grew its stake in shares of MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after acquiring an additional 11 shares in the last quarter. Human Investing LLC purchased a new stake in MercadoLibre during the 4th quarter worth approximately $26,000. Finally, Park Square Financial Group LLC bought a new position in MercadoLibre during the 4th quarter valued at $26,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Trading Down 0.8%

MercadoLibre stock traded down $18.18 during mid-day trading on Thursday, hitting $2,368.82. The company's stock had a trading volume of 308,951 shares, compared to its average volume of 384,951. The business has a 50 day moving average price of $2,318.55 and a 200-day moving average price of $2,070.71. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre has a 12 month low of $1,550.00 and a 12 month high of $2,635.88. The stock has a market cap of $120.09 billion, a price-to-earnings ratio of 62.83, a price-to-earnings-growth ratio of 1.12 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating analysts' consensus estimates of $7.82 by $1.92. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same quarter in the previous year, the firm posted $6.78 EPS. The company's revenue for the quarter was up 37.0% compared to the same quarter last year. As a group, analysts forecast that MercadoLibre will post 43.96 EPS 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.