MercadoLibre, Inc. (NASDAQ:MELI) Receives $2,255.33 Consensus Target Price from Analysts

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have received an average recommendation of “Moderate Buy” from the eighteen research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $2,255.3333.

Several research analysts have recently commented on the stock. BTIG Research reaffirmed a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a report on Tuesday, June 2nd. Daiwa Securities Group cut shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price on the stock. in a report on Friday, May 8th. Zacks Research cut shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 22nd. Scotiabank lowered their target price on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 7th. Finally, UBS Group lowered their target price on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,675.10 on Monday. The firm has a 50 day moving average price of $1,687.25 and a two-hundred day moving average price of $1,841.55. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $84.93 billion, a PE ratio of 44.21, a price-to-earnings-growth ratio of 1.03 and a beta of 1.36. MercadoLibre has a 12-month low of $1,495.00 and a 12-month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The company had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter last year, the business earned $9.74 earnings per share. The company’s revenue was up 49.0% on a year-over-year basis. As a group, analysts predict that MercadoLibre will post 40.97 earnings per share for the current year.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of the stock in a transaction dated Friday, May 22nd. The shares were bought at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the acquisition, the director owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Interchange Capital Partners LLC increased its holdings in shares of MercadoLibre by 2.1% during the fourth quarter. Interchange Capital Partners LLC now owns 243 shares of the company’s stock worth $490,000 after purchasing an additional 5 shares during the period. Cornerstone Select Advisors LLC increased its stake in MercadoLibre by 2.9% in the fourth quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company’s stock valued at $355,000 after acquiring an additional 5 shares during the last quarter. Mitchell Capital Management Co. increased its stake in MercadoLibre by 0.4% in the fourth quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company’s stock valued at $2,542,000 after acquiring an additional 5 shares during the last quarter. Strategic Advisors LLC increased its stake in MercadoLibre by 0.4% in the fourth quarter. Strategic Advisors LLC now owns 1,273 shares of the company’s stock valued at $2,564,000 after acquiring an additional 5 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC increased its stake in MercadoLibre by 2.0% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company’s stock valued at $605,000 after acquiring an additional 5 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.