Analysts Set MercadoLibre, Inc. (NASDAQ:MELI) Target Price at $2,402.81

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have received an average recommendation of “Buy” from the seventeen research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $2,402.81.

A number of research firms have issued reports on MELI. Bank of America boosted their target price on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target for the company in a research note on Tuesday, January 21st. The Goldman Sachs Group raised their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Barclays lifted their price target on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, Wedbush dropped their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research report on Monday, January 6th.

MercadoLibre Trading Down 4.7 %

Shares of NASDAQ MELI opened at $1,950.87 on Friday. The company has a 50-day moving average of $2,030.68 and a two-hundred day moving average of $1,972.33. The company has a market cap of $98.90 billion, a PE ratio of 51.75, a P/E/G ratio of 1.12 and a beta of 1.64. MercadoLibre has a 1-year low of $1,324.99 and a 1-year high of $2,374.54. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. As a group, equities analysts expect that MercadoLibre will post 43.96 earnings per share for the current fiscal year.

Institutional Trading of MercadoLibre

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new position in MercadoLibre during the 3rd quarter worth approximately $114,417,000. Principal Financial Group Inc. boosted its stake in MercadoLibre by 20.9% during the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock valued at $121,948,000 after purchasing an additional 10,272 shares during the last quarter. Nordea Investment Management AB raised its position in MercadoLibre by 37.8% in the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock valued at $271,897,000 after buying an additional 43,215 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of MercadoLibre by 11.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company’s stock worth $2,328,000 after buying an additional 143 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd grew its stake in MercadoLibre by 40.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock valued at $5,598,000 after purchasing an additional 780 shares during the period. 87.62% of the stock is currently owned by 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.