MercadoLibre (NASDAQ:MELI) Earns “Outperform” Rating from Wedbush

MercadoLibre (NASDAQ:MELIGet Free Report)‘s stock had its “outperform” rating reissued by analysts at Wedbush in a research note issued on Thursday, RTT News reports. They presently have a $2,200.00 price target on the stock, up from their prior price target of $2,000.00. Wedbush’s price objective suggests a potential upside of 21.44% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Bank of America upped their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Redburn Atlantic initiated coverage on MercadoLibre in a research report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price on the stock. The Goldman Sachs Group raised their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Susquehanna upped their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,313.00.

View Our Latest Stock Analysis on MELI

MercadoLibre Stock Down 14.4 %

NASDAQ MELI traded down $305.74 during trading on Thursday, hitting $1,811.56. The company’s stock had a trading volume of 1,175,907 shares, compared to its average volume of 348,992. MercadoLibre has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The company has a market cap of $91.85 billion, a PE ratio of 65.47, a P/E/G ratio of 1.26 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. The business’s 50 day simple moving average is $2,055.08 and its 200-day simple moving average is $1,819.36.

MercadoLibre (NASDAQ:MELIGet Free Report) last released its earnings results on Wednesday, November 6th. The company reported $7.83 EPS for the quarter, missing analysts’ consensus estimates of $11.27 by ($3.44). MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.25 billion. On average, equities analysts anticipate that MercadoLibre will post 37.7 EPS for the current fiscal year.

Hedge Funds Weigh In On MercadoLibre

Large investors have recently bought and sold shares of the business. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after buying an additional 16 shares in the last quarter. Optimum Investment Advisors increased its holdings in MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after acquiring an additional 15 shares in the last quarter. Financial Connections Group Inc. purchased a new position in MercadoLibre during the second quarter valued at $36,000. Quarry LP acquired a new stake in shares of MercadoLibre in the second quarter valued at about $43,000. Finally, NBC Securities Inc. increased its stake in shares of MercadoLibre by 35.0% during the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after purchasing an additional 7 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Company Profile

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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.

Further Reading

Analyst Recommendations for MercadoLibre (NASDAQ:MELI)

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