Brokerages Set MercadoLibre, Inc. (NASDAQ:MELI) Price Target at $2,272.00

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have received an average recommendation of “Moderate Buy” from the seventeen brokerages that are covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $2,272.00.

Several research firms recently weighed in on MELI. The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a report on Wednesday, May 13th. UBS Group lowered their target price on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. BTIG Research reiterated a “buy” rating and issued a $2,150.00 target price on shares of MercadoLibre in a research report on Thursday, September 3rd. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Cantor Fitzgerald boosted their price target on MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th.

MercadoLibre Price Performance

MELI stock opened at $1,876.33 on Friday. The stock has a market cap of $95.13 billion, a price-to-earnings ratio of 51.03, a P/E/G ratio of 1.32 and a beta of 1.31. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The company has a 50 day simple moving average of $1,872.60 and a 200 day simple moving average of $1,768.04. MercadoLibre has a 1 year low of $1,495.00 and a 1 year high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 6th. The company reported $9.19 earnings per share for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. The firm had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The company’s revenue was up 49.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.31 earnings per share. Research analysts anticipate that MercadoLibre will post 39.11 EPS for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

A number of institutional investors have recently added to or reduced their stakes in MELI. Bison Wealth LLC acquired a new position in shares of MercadoLibre during the fourth quarter worth $206,000. Empowered Funds LLC grew its stake in shares of MercadoLibre by 6.9% in the first quarter. Empowered Funds LLC now owns 760 shares of the company’s stock worth $1,483,000 after purchasing an additional 49 shares during the last quarter. Focus Partners Wealth increased its holdings in MercadoLibre by 42.0% in the first quarter. Focus Partners Wealth now owns 602 shares of the company’s stock valued at $1,176,000 after purchasing an additional 178 shares during the period. Sivia Capital Partners LLC bought a new position in MercadoLibre during the 2nd quarter worth $261,000. Finally, Gamco Investors INC. ET AL raised its position in MercadoLibre by 21.4% during the 2nd quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock worth $444,000 after purchasing an additional 30 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

About MercadoLibre

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company began as an online marketplace and has expanded into a broad platform serving consumers, merchants and businesses.

Its marketplace enables users to buy and sell products across categories, while Mercado Pago provides digital payments, online checkout, money transfers and other financial services. The company also offers Mercado Envíos logistics and fulfillment services, Mercado Ads advertising solutions, and credit products through Mercado Crédito.