Mercadolibre (NASDAQ:MELI) PT Set at $713.00 by Goldman Sachs Group

Goldman Sachs Group set a $713.00 price target on Mercadolibre (NASDAQ:MELI) in a research report sent to investors on Tuesday morning, TipRanks reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Mercadolibre from $560.00 to $650.00 and gave the company a hold rating in a research note on Thursday, August 8th. Citigroup raised shares of Mercadolibre from a neutral rating to a buy rating and lifted their price objective for the company from $609.00 to $729.00 in a research note on Thursday, August 8th. BTIG Research raised shares of Mercadolibre from a neutral rating to a buy rating and set a $720.00 price objective for the company in a research note on Monday. Barclays lifted their price objective on shares of Mercadolibre from $615.00 to $730.00 and gave the company an overweight rating in a research note on Tuesday, July 16th. Finally, JPMorgan Chase & Co. raised shares of Mercadolibre from a neutral rating to an overweight rating and lifted their price objective for the company from $563.00 to $750.00 in a research note on Tuesday, August 13th. One analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Mercadolibre presently has a consensus rating of Buy and a consensus target price of $665.69.

Shares of NASDAQ:MELI traded up $0.27 during trading on Tuesday, reaching $572.00. 731 shares of the company traded hands, compared to its average volume of 405,935. The firm has a fifty day simple moving average of $615.85 and a 200 day simple moving average of $564.68. The firm has a market cap of $27.30 billion, a P/E ratio of -692.71 and a beta of 1.71. Mercadolibre has a 1-year low of $257.52 and a 1-year high of $698.98. The company has a quick ratio of 2.53, a current ratio of 2.54 and a debt-to-equity ratio of 0.36.

Mercadolibre (NASDAQ:MELI) last issued its earnings results on Wednesday, August 7th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03. The company had revenue of $545.24 million during the quarter, compared to analyst estimates of $507.68 million. Mercadolibre had a net margin of 0.87% and a return on equity of 1.24%. The company’s revenue for the quarter was up 62.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.25) EPS. As a group, research analysts anticipate that Mercadolibre will post 0.58 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC raised its holdings in Mercadolibre by 6.1% in the 2nd quarter. Janus Henderson Group PLC now owns 123,705 shares of the company’s stock worth $75,679,000 after acquiring an additional 7,149 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Mercadolibre by 21.6% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 2,962 shares of the company’s stock worth $1,504,000 after purchasing an additional 526 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Mercadolibre by 32.8% during the 2nd quarter. Janney Montgomery Scott LLC now owns 2,693 shares of the company’s stock worth $1,648,000 after purchasing an additional 665 shares during the period. Asahi Life Asset Management CO. LTD. bought a new position in shares of Mercadolibre during the 2nd quarter worth about $327,000. Finally, Cedar Capital LLC increased its holdings in shares of Mercadolibre by 17.3% during the 2nd quarter. Cedar Capital LLC now owns 1,779 shares of the company’s stock worth $1,088,000 after purchasing an additional 263 shares during the period. Hedge funds and other institutional investors own 83.69% of the company’s stock.

Mercadolibre Company Profile

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.

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Analyst Recommendations for Mercadolibre (NASDAQ:MELI)

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