MercadoLibre (NASDAQ:MELI) Upgraded by Wall Street Zen to "Buy" Rating

MercadoLibre (NASDAQ:MELI - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

MELI has been the topic of several other reports. JPMorgan Chase & Co. boosted their target price on MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Jefferies Financial Group restated a "hold" rating and issued a $2,800.00 target price (up from $2,450.00) on shares of MercadoLibre in a research note on Thursday, June 5th. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. Bank of America lifted their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Finally, Citigroup reiterated a "buy" rating on shares of MercadoLibre in a research report on Friday, June 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $2,632.50.

MercadoLibre Stock Performance

Shares of MELI traded up $3.16 during mid-day trading on Friday, hitting $2,371.98. The stock had a trading volume of 341,577 shares, compared to its average volume of 385,718. The firm has a market cap of $120.25 billion, a P/E ratio of 62.92, a PEG ratio of 1.12 and a beta of 1.51. The business has a fifty day moving average price of $2,340.95 and a 200-day moving average price of $2,074.37. 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 52 week low of $1,550.00 and a 52 week high of $2,635.88.

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

Hedge Funds Weigh In On MercadoLibre

Hedge funds and other institutional investors have recently modified their holdings of the company. Key Financial Inc purchased a new position in shares of MercadoLibre in the 1st quarter worth about $25,000. GW&K Investment Management LLC purchased a new position in shares of MercadoLibre in the 1st quarter worth about $25,000. Human Investing LLC purchased a new position in shares of MercadoLibre in the 4th quarter worth about $26,000. Park Square Financial Group LLC purchased a new position in shares of MercadoLibre in the 4th quarter worth about $26,000. Finally, Covestor Ltd purchased a new position in shares of MercadoLibre in the 4th quarter worth about $27,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

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.