MercadoLibre (NASDAQ:MELI) Receives “Buy” Rating from BTIG Research

MercadoLibre (NASDAQ:MELI)‘s stock had its “buy” rating restated by research analysts at BTIG Research in a report released on Thursday, Benzinga reports. They currently have a $2,150.00 target price on the stock. BTIG Research’s price target would indicate a potential upside of 7.15% from the company’s previous close.

Several other brokerages also recently issued reports on MELI. Cantor Fitzgerald upped their price target on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Scotiabank dropped their price objective on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 7th. Barclays decreased their price objective on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a research report on Wednesday, May 13th. Finally, Citigroup increased their price target on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and an average price target of $2,272.00.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,006.58 on Thursday. MercadoLibre has a 52-week low of $1,495.00 and a 52-week high of $2,548.50. 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 stock has a fifty day moving average price of $1,845.93 and a two-hundred day moving average price of $1,769.50. The firm has a market capitalization of $101.73 billion, a P/E ratio of 54.57, a P/E/G ratio of 1.35 and a beta of 1.31.

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

Hedge Funds Weigh In On MercadoLibre

Hedge funds and other institutional investors have recently bought and sold shares of the business. Transamerica Financial Advisors LLC bought a new stake in MercadoLibre in the 4th quarter valued at $26,000. Purpose Unlimited Inc. bought a new position in MercadoLibre in the fourth quarter valued at approximately $28,000. Wedbush Fund Advisers LLC acquired a new position in shares of MercadoLibre during the 2nd quarter worth $29,000. Darwin Wealth Management LLC acquired a new position in MercadoLibre during the second quarter worth about $29,000. Finally, Curio Wealth LLC bought a new position in MercadoLibre in the 4th quarter valued at approximately $30,000. Institutional investors own 87.62% of the company’s stock.

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.