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

DZ Bank upgraded shares of MercadoLibre (NASDAQ:MELI) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. The firm currently has $1,685.00 target price on the stock.

Other equities analysts also recently issued reports about the company. Wedbush reaffirmed an outperform rating and issued a $2,000.00 price target on shares of MercadoLibre in a report on Tuesday, March 5th. Barclays decreased their price target on MercadoLibre from $2,000.00 to $1,800.00 and set an overweight rating for the company in a research note on Wednesday, April 3rd. StockNews.com cut MercadoLibre from a buy rating to a hold rating in a research note on Thursday, February 29th. Susquehanna increased their price target on MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a positive rating in a research note on Friday, February 23rd. Finally, JPMorgan Chase & Co. increased their price target on MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an overweight rating in a research note on Tuesday, February 27th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $1,790.36.

MercadoLibre Stock Up 3.1 %

MELI stock opened at $1,406.00 on Tuesday. The company’s 50 day moving average price is $1,523.37 and its 200 day moving average price is $1,528.68. 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 has a fifty-two week low of $1,063.02 and a fifty-two week high of $1,825.00. The firm has a market capitalization of $71.28 billion, a price-to-earnings ratio of 71.96, a PEG ratio of 0.91 and a beta of 1.44.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). The business had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.14 billion. MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The business’s revenue for the quarter was up 42.0% compared to the same quarter last year. During the same period last year, the company earned $3.25 earnings per share. On average, equities research analysts anticipate that MercadoLibre will post 34.46 EPS for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

Several hedge funds have recently modified their holdings of MELI. Sterling Investment Counsel LLC acquired a new position in MercadoLibre in the 1st quarter worth about $209,000. UMB Bank n.a. lifted its position in shares of MercadoLibre by 28.3% in the 1st quarter. UMB Bank n.a. now owns 136 shares of the company’s stock worth $206,000 after acquiring an additional 30 shares during the period. YHB Investment Advisors Inc. bought a new stake in shares of MercadoLibre in the 1st quarter worth approximately $60,000. Mesirow Financial Investment Management Inc. bought a new position in shares of MercadoLibre during the 1st quarter worth approximately $410,000. Finally, MONECO Advisors LLC bought a new position in shares of MercadoLibre during the 1st quarter worth approximately $1,211,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

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.