Wedbush started coverage on shares of MercadoLibre (NASDAQ:MELI – Free Report) in a research note issued to investors on Monday, FlyOnTheWall reports. The brokerage issued an outperform rating on the stock.
A number of other equities analysts also recently commented on MELI. Wolfe Research dropped their target price on shares of MercadoLibre from $1,700.00 to $1,400.00 in a research note on Monday, July 10th. Bank of America downgraded shares of MercadoLibre from a buy rating to a neutral rating and dropped their target price for the stock from $1,680.00 to $1,350.00 in a research note on Monday, July 10th. TheStreet downgraded shares of MercadoLibre from a b- rating to a c+ rating in a research note on Monday, July 10th. Citigroup upped their target price on shares of MercadoLibre from $1,500.00 to $1,550.00 in a research note on Wednesday, August 9th. Finally, BTIG Research upped their target price on shares of MercadoLibre from $1,400.00 to $1,600.00 in a research note on Thursday, May 4th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $1,625.91.
View Our Latest Report on MELI
MercadoLibre Stock Up 2.4 %
Shares of MELI stock opened at $1,228.51 on Monday. The stock has a market cap of $61.54 billion, a P/E ratio of 82.23, a PEG ratio of 1.30 and a beta of 1.52. MercadoLibre has a 52 week low of $754.76 and a 52 week high of $1,388.39. The company has a quick ratio of 1.25, a current ratio of 1.28 and a debt-to-equity ratio of 1.10. The company’s fifty day simple moving average is $1,215.11 and its two-hundred day simple moving average is $1,226.78.
MercadoLibre (NASDAQ:MELI – Get Free Report) last announced its earnings results on Wednesday, August 2nd. The company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.13 by $1.03. The firm had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.27 billion. MercadoLibre had a net margin of 6.23% and a return on equity of 39.07%. The business’s revenue was up 31.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.43 EPS. Analysts predict that MercadoLibre will post 19.74 EPS for the current fiscal year.
Institutional Investors Weigh In On MercadoLibre
Large investors have recently added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. grew its holdings in MercadoLibre by 185.7% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 20 shares of the company’s stock worth $25,000 after acquiring an additional 13 shares in the last quarter. NewSquare Capital LLC grew its holdings in MercadoLibre by 900.0% during the 1st quarter. NewSquare Capital LLC now owns 20 shares of the company’s stock worth $26,000 after acquiring an additional 18 shares in the last quarter. Sageworth Trust Co acquired a new position in MercadoLibre during the 1st quarter worth approximately $30,000. Pacifica Partners Inc. acquired a new position in MercadoLibre during the 1st quarter worth approximately $31,000. Finally, Castleview Partners LLC grew its holdings in MercadoLibre by 58.8% during the 2nd quarter. Castleview Partners LLC now owns 27 shares of the company’s stock worth $32,000 after acquiring an additional 10 shares in the last quarter. 80.67% of the stock is owned by hedge funds and other institutional investors.
About MercadoLibre
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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.
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