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

Key Points

• Analyst consensus: Nineteen analysts give MercadoLibre a consensus rating of "Moderate Buy" (15 buys, 1 strong buy, 2 holds, 1 sell) with an average 1-year price target of $2,685.33.
• Broker downgrades and target cuts: Several firms have trimmed ratings/targets recently — notably JPMorgan cut MercadoLibre from "overweight" to "neutral" and slashed its target from $2,650 to $2,100, while Cantor Fitzgerald, Wedbush, Weiss and Zacks also reduced ratings or targets.
• Stock and fundamentals snapshot: MELI opened at $1,850.05, has a market cap of ~$93.8B and a P/E of ~46.96; last quarter EPS was $11.03 on $8.76B revenue, and institutional investors own about 87.6% of the shares.

MercadoLibre, Inc. (NASDAQ:MELI - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the nineteen analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, fifteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $2,685.3333.

Several brokerages have commented on MELI. JPMorgan Chase & Co. lowered shares of MercadoLibre from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $2,650.00 to $2,100.00 in a research note on Thursday, March 12th. Cantor Fitzgerald lowered their target price on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an "overweight" rating for the company in a report on Tuesday, April 21st. Wedbush dropped their target price on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 25th. Weiss Ratings lowered shares of MercadoLibre from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, January 8th. Finally, Zacks Research cut shares of MercadoLibre from a "hold" rating to a "strong sell" rating in a research report on Wednesday, April 22nd.

MercadoLibre Trading Up 3.2%

NASDAQ:MELI opened at $1,850.05 on Friday. The stock has a 50-day simple moving average of $1,760.90 and a 200-day simple moving average of $1,972.77. The stock has a market cap of $93.80 billion, a P/E ratio of 46.96, a P/E/G ratio of 0.92 and a beta of 1.41. MercadoLibre has a 1 year low of $1,593.21 and a 1 year high of $2,645.22. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.17.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Saturday, February 14th. The company reported $11.03 earnings per share for the quarter. The business had revenue of $8.76 billion for the quarter. MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%. As a group, analysts anticipate that MercadoLibre will post 48.79 earnings per share for the current fiscal year.

Institutional Trading of MercadoLibre

Several institutional investors and hedge funds have recently made changes to their positions in the company. Darwin Wealth Management LLC purchased a new position in MercadoLibre during the 2nd quarter worth approximately $29,000. Laurel Wealth Advisors LLC purchased a new stake in MercadoLibre in the fourth quarter valued at approximately $26,000. Transamerica Financial Advisors LLC acquired a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $26,000. Purpose Unlimited Inc. acquired a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $28,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in shares of MercadoLibre during the third quarter worth approximately $35,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Company Profile

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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