MercadoLibre (NASDAQ:MELI) Stock Rating Upgraded by DZ Bank

DZ Bank upgraded shares of MercadoLibre (NASDAQ:MELI - Free Report) from a hold rating to a buy rating in a report published on Tuesday, MarketBeat.com reports. They currently have $1,685.00 price objective on the stock.

Other analysts have also issued research reports about the company. Susquehanna increased their price objective on MercadoLibre from $1,850.00 to $2,000.00 and gave the company a positive rating in a report on Friday, February 23rd. JPMorgan Chase & Co. raised their target price on MercadoLibre from $2,000.00 to $2,150.00 and gave the company an overweight rating in a research report on Tuesday, February 27th. UBS Group decreased their price target 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. Citigroup decreased their target price on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a buy rating on the stock in a research note on Wednesday, March 27th. Finally, StockNews.com lowered shares of MercadoLibre from a buy rating to a hold rating in a research report on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $1,804.64.

MercadoLibre Price Performance

Shares of MercadoLibre stock traded up $26.77 during trading hours on Tuesday, hitting $1,395.00. The company's stock had a trading volume of 416,349 shares, compared to its average volume of 387,495. The business has a 50 day moving average price of $1,546.31 and a two-hundred day moving average price of $1,529.78. MercadoLibre has a 12-month low of $1,063.02 and a 12-month high of $1,825.00. The company has a market cap of $70.72 billion, a PE ratio of 71.39, a PEG ratio of 0.87 and a beta of 1.44. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing analysts' consensus estimates of $6.66 by ($3.41). MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The business had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same period in the prior year, the company posted $3.25 EPS. The company's quarterly revenue was up 42.0% compared to the same quarter last year. Analysts expect that MercadoLibre will post 35.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MercadoLibre

Several institutional investors and hedge funds have recently modified their holdings of the company. First PREMIER Bank purchased a new position in MercadoLibre during the first quarter worth approximately $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in MercadoLibre in the 4th quarter valued at about $28,000. Archer Investment Corp bought a new stake in MercadoLibre in the 4th quarter valued at about $31,000. Proffitt & Goodson Inc. bought a new stake in shares of MercadoLibre during the 3rd quarter worth about $32,000. Finally, NBC Securities Inc. bought a new stake in shares of MercadoLibre during the 3rd quarter worth about $35,000. Hedge funds and other 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.