MercadoLibre (NASDAQ:MELI) Price Target Raised to $2,000.00 at Barclays

MercadoLibre (NASDAQ:MELI - Free Report) had its price target upped by Barclays from $1,800.00 to $2,000.00 in a report released on Monday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts also recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the company an overweight rating in a report on Tuesday, February 27th. StockNews.com downgraded shares of MercadoLibre from a buy rating to a hold rating in a report on Thursday, February 29th. DZ Bank upgraded MercadoLibre from a hold rating to a buy rating and set a $1,685.00 price objective on the stock in a research report on Tuesday, April 23rd. Citigroup decreased their target price on MercadoLibre from $1,990.00 to $1,940.00 and set a buy rating on the stock in a research report on Wednesday, March 27th. Finally, Susquehanna increased their target price on MercadoLibre from $1,850.00 to $2,000.00 and gave the company a positive rating in a research report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $1,820.38.

MercadoLibre Stock Down 1.0 %

Shares of MELI stock traded down $16.63 during mid-day trading on Monday, hitting $1,677.34. 247,910 shares of the stock traded hands, compared to its average volume of 404,022. The stock has a market cap of $85.04 billion, a P/E ratio of 75.05, a P/E/G ratio of 1.15 and a beta of 1.45. The stock's fifty day moving average is $1,508.16 and its two-hundred day moving average is $1,559.80. MercadoLibre has a 52-week low of $1,063.02 and a 52-week high of $1,825.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.27 and a quick ratio of 1.25.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, beating the consensus estimate of $6.64 by $0.14. The business had revenue of $4.33 billion during the quarter, compared to analyst estimates of $3.84 billion. MercadoLibre had a net margin of 7.17% and a return on equity of 39.46%. The company's quarterly revenue was up 36.0% on a year-over-year basis. During the same period in the prior year, the firm posted $3.97 earnings per share. Equities analysts predict that MercadoLibre will post 33.96 EPS for the current year.

Institutional Trading of MercadoLibre

A number of hedge funds and other institutional investors have recently modified their holdings of MELI. WCM Investment Management LLC increased its stake in shares of MercadoLibre by 74.8% in the 4th quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company's stock worth $1,838,964,000 after acquiring an additional 497,535 shares during the last quarter. Norges Bank acquired a new stake in shares of MercadoLibre during the 4th quarter worth about $554,386,000. Morgan Stanley increased its position in shares of MercadoLibre by 10.2% during the 3rd quarter. Morgan Stanley now owns 2,558,467 shares of the company's stock worth $3,243,832,000 after purchasing an additional 236,744 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of MercadoLibre by 112,333.8% during the 4th quarter. International Assets Investment Management LLC now owns 146,164 shares of the company's stock worth $229,703,000 after purchasing an additional 146,034 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of MercadoLibre by 1,432.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 127,355 shares of the company's stock worth $200,140,000 after purchasing an additional 119,043 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

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.