MercadoLibre (NASDAQ:MELI) Stock Rating Reaffirmed by Wedbush

Wedbush reissued their outperform rating on shares of MercadoLibre (NASDAQ:MELI - Free Report) in a research note released on Friday morning, Benzinga reports. They currently have a $1,800.00 target price on the stock.

Several other research firms have also issued reports on MELI. Susquehanna upped their target price on MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a positive rating in a report on Friday, February 23rd. Barclays cut their price objective on MercadoLibre from $2,000.00 to $1,800.00 and set an overweight rating for the company in a report on Wednesday, April 3rd. DZ Bank upgraded shares of MercadoLibre from a hold rating to a buy rating and set a $1,685.00 target price on the stock in a report on Tuesday, April 23rd. StockNews.com cut shares of MercadoLibre from a buy rating to a hold rating in a research note on Thursday, February 29th. Finally, UBS Group lowered their price objective on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a buy rating on the stock in a research note on Wednesday, April 17th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $1,790.36.

MercadoLibre Stock Up 8.3 %

Shares of MercadoLibre stock traded up $124.57 during trading on Friday, reaching $1,630.56. The stock had a trading volume of 1,346,547 shares, compared to its average volume of 402,715. The company has a current ratio of 1.27, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $82.67 billion, a price-to-earnings ratio of 83.45, a P/E/G ratio of 0.97 and a beta of 1.45. The stock has a fifty day moving average price of $1,499.27 and a two-hundred day moving average price of $1,534.96. MercadoLibre has a 52 week low of $1,063.02 and a 52 week high of $1,825.00.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share for the quarter, topping analysts' consensus estimates of $6.64 by $0.14. MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The firm had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter in the prior year, the firm posted $3.97 EPS. The business's revenue was up 36.0% on a year-over-year basis. Sell-side analysts predict that MercadoLibre will post 34.46 EPS for the current fiscal year.

Hedge Funds Weigh In On MercadoLibre

Large investors have recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of MercadoLibre during the fourth quarter worth $28,000. First PREMIER Bank bought a new position in MercadoLibre during the first quarter worth about $27,000. Archer Investment Corp acquired a new stake in MercadoLibre in the 4th quarter worth about $31,000. Larson Financial Group LLC bought a new stake in MercadoLibre in the 4th quarter valued at about $36,000. Finally, DSM Capital Partners LLC acquired a new position in shares of MercadoLibre during the 4th quarter worth approximately $36,000. Institutional investors own 87.62% of the company's stock.

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.