BTIG Research Reaffirms Buy Rating for MercadoLibre (NASDAQ:MELI)

MercadoLibre (NASDAQ:MELI)‘s stock had its “buy” rating restated by stock analysts at BTIG Research in a report released on Friday,Benzinga reports. They presently have a $2,750.00 target price on the stock. BTIG Research’s price objective would suggest a potential upside of 34.22% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Benchmark cut their price target on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Jefferies Financial Group reissued a “hold” rating and issued a $2,800.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Cantor Fitzgerald lowered their price target on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Wedbush increased their price objective on MercadoLibre from $2,700.00 to $2,800.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Finally, JPMorgan Chase & Co. boosted their target price on MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2,854.71.

MercadoLibre Trading Up 0.9%

NASDAQ MELI opened at $2,048.89 on Friday. The firm has a market cap of $103.87 billion, a PE ratio of 50.00, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51. MercadoLibre has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The stock has a 50-day moving average of $2,256.65 and a 200-day moving average of $2,372.71. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The company had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $7.19 billion. During the same period last year, the firm earned $7.83 earnings per share. MercadoLibre’s revenue for the quarter was up 39.5% on a year-over-year basis. As a group, sell-side analysts forecast that MercadoLibre will post 43.96 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MELI. Optimize Financial Inc grew its stake in shares of MercadoLibre by 1.7% in the 1st quarter. Optimize Financial Inc now owns 238 shares of the company’s stock worth $464,000 after buying an additional 4 shares during the last quarter. Range Financial Group LLC raised its stake in MercadoLibre by 2.7% during the second quarter. Range Financial Group LLC now owns 188 shares of the company’s stock valued at $491,000 after buying an additional 5 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its holdings in MercadoLibre by 26.3% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 24 shares of the company’s stock worth $63,000 after acquiring an additional 5 shares in the last quarter. Quadcap Wealth Management LLC grew its stake in shares of MercadoLibre by 4.2% in the second quarter. Quadcap Wealth Management LLC now owns 124 shares of the company’s stock worth $324,000 after acquiring an additional 5 shares during the last quarter. Finally, PFW Advisors LLC increased its holdings in shares of MercadoLibre by 4.8% during the third quarter. PFW Advisors LLC now owns 110 shares of the company’s stock valued at $257,000 after acquiring an additional 5 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other 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.