MercadoLibre’s (MELI) “Buy” Rating Reaffirmed at BTIG Research

MercadoLibre (NASDAQ:MELI)‘s stock had its “buy” rating restated by equities research analysts at BTIG Research in a research report issued on Friday,Benzinga reports. They currently have a $2,750.00 price target on the stock. BTIG Research’s price target points to a potential upside of 35.62% from the company’s current price.

A number of other brokerages have also weighed in on MELI. Wedbush raised their target price on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Barclays raised their price objective on MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Raymond James Financial reiterated a “strong-buy” rating and issued a $2,750.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of MercadoLibre in a report on Friday, October 31st. Finally, Jefferies Financial Group reissued a “hold” rating and set a $2,800.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $2,854.71.

MercadoLibre Stock Performance

MELI traded down $3.35 during trading on Friday, hitting $2,027.70. The stock had a trading volume of 222,597 shares, compared to its average volume of 416,065. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The company has a 50 day moving average price of $2,264.02 and a 200-day moving average price of $2,373.18. MercadoLibre has a one year low of $1,646.00 and a one year high of $2,645.22. The firm has a market cap of $102.80 billion, a price-to-earnings ratio of 49.49, a P/E/G ratio of 1.56 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The firm had revenue of $7.41 billion for the quarter, compared to analyst estimates of $7.19 billion. During the same period in the prior year, the business posted $7.83 EPS. The firm’s quarterly revenue was up 39.5% compared to the same quarter last year. As a group, research analysts predict that MercadoLibre will post 43.96 EPS for the current year.

Institutional Trading of MercadoLibre

Large investors have recently bought and sold shares of the company. Lavaca Capital LLC lifted its holdings in MercadoLibre by 140,201.3% during the 2nd quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock worth $2,786,888,000 after purchasing an additional 1,065,530 shares in the last quarter. Norges Bank purchased a new stake in MercadoLibre in the second quarter valued at approximately $698,848,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in MercadoLibre by 304.7% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 255,103 shares of the company’s stock valued at $666,744,000 after purchasing an additional 192,071 shares during the last quarter. Flossbach Von Storch SE lifted its position in MercadoLibre by 1,669.4% during the third quarter. Flossbach Von Storch SE now owns 181,719 shares of the company’s stock valued at $424,666,000 after purchasing an additional 171,449 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in MercadoLibre by 28.4% in the 3rd quarter. Wellington Management Group LLP now owns 493,770 shares of the company’s stock worth $1,153,911,000 after buying an additional 109,228 shares in the last quarter. 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.