Brokerages Set MercadoLibre, Inc. (NASDAQ:MELI) PT at $2,255.33

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have been given an average rating of “Moderate Buy” by the seventeen research firms that are covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $2,272.00.

Several analysts have weighed in on MELI shares. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Barclays reduced their target price on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Citigroup boosted their price target on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Daiwa Securities Group lowered shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective on the stock. in a report on Friday, May 8th. Finally, Benchmark reduced their price objective on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research note on Friday, May 8th.

Insider Buying and Selling at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin purchased 600 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were bought at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the purchase, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. This trade represents a 12.62% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.26% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MercadoLibre

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Darwin Wealth Management LLC acquired a new position in MercadoLibre during the second quarter valued at approximately $29,000. Laurel Wealth Advisors LLC acquired a new stake in MercadoLibre in the fourth quarter worth $26,000. Transamerica Financial Advisors LLC acquired a new stake in MercadoLibre in the fourth quarter worth $26,000. Purpose Unlimited Inc. bought a new position in shares of MercadoLibre during the fourth quarter worth $28,000. Finally, Curio Wealth LLC bought a new position in shares of MercadoLibre during the fourth quarter worth $30,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 0.9%

Shares of NASDAQ:MELI opened at $1,844.58 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. The firm has a market cap of $93.52 billion, a P/E ratio of 50.17, a P/E/G ratio of 1.26 and a beta of 1.34. MercadoLibre has a 12 month low of $1,495.00 and a 12 month high of $2,548.50. The company’s 50-day moving average price is $1,767.47 and its two-hundred day moving average price is $1,788.68.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. MercadoLibre’s quarterly revenue was up 49.8% on a year-over-year basis. During the same period in the prior year, the business earned $10.31 earnings per share. As a group, research analysts forecast that MercadoLibre will post 39.11 EPS for the current fiscal year.

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.