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

Key Points

• Analysts have a “Moderate Buy” consensus on MercadoLibre, with 11 buy ratings and six holds among 17 firms. The average 12-month price target is $2,255.33.
• MercadoLibre exceeded quarterly expectations, reporting $9.19 EPS versus an $8.65 estimate and $10.17 billion in revenue, up 49.8% year over year.
• A company director purchased 600 shares worth nearly $994,000, while institutional investors hold 87.62% of the stock.

MercadoLibre, Inc. (NASDAQ:MELI - Get Free Report) has been given an average rating of "Moderate Buy" by the seventeen research firms that are currently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $2,255.3333.

Several analysts have recently weighed in on the company. The Goldman Sachs Group set a $2,100.00 price target on MercadoLibre in a report on Wednesday, May 13th. Daiwa Securities Group lowered shares of MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 target price on the stock. in a report on Friday, May 8th. Cantor Fitzgerald upped their price target on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Zacks Research upgraded shares of MercadoLibre from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Finally, Citigroup boosted their price objective on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 15th.

Insider Buying and Selling

In related news, Director Alejandro Nicolas Aguzin bought 600 shares of the business's stock in a transaction on Friday, May 22nd. The shares were purchased at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the acquisition, the director owned 5,355 shares of the company's stock, valued at $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.26% of the company's stock.

Hedge Funds Weigh In On MercadoLibre

Hedge funds have recently made changes to their positions in the stock. Laurel Wealth Advisors LLC acquired a new stake in MercadoLibre during the 4th quarter valued at approximately $26,000. Transamerica Financial Advisors LLC acquired a new position in shares of MercadoLibre in the 4th quarter worth approximately $26,000. Purpose Unlimited Inc. acquired a new position in shares of MercadoLibre in the 4th quarter worth approximately $28,000. Darwin Wealth Management LLC bought a new stake in shares of MercadoLibre in the 2nd quarter valued at $29,000. Finally, Curio Wealth LLC bought a new stake in shares of MercadoLibre in the 4th quarter valued at $30,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $1,824.34 on Tuesday. The company's 50 day moving average price is $1,749.73 and its two-hundred day moving average price is $1,793.59. The firm has a market capitalization of $92.49 billion, a P/E ratio of 49.61, a P/E/G ratio of 1.13 and a beta of 1.34. MercadoLibre has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, topping 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 company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same period in the prior year, the business earned $10.31 earnings per share. The company's revenue for the quarter was up 49.8% compared to the same quarter last year. On average, equities analysts forecast that MercadoLibre will post 40.69 earnings per share for the current fiscal year.

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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