MercadoLibre, Inc. (NASDAQ:MELI) Receives $2,255.33 Average PT from Brokerages

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have been assigned a consensus rating of “Moderate Buy” from the eighteen brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $2,255.3333.

Several equities analysts have recently issued reports on MELI shares. Citigroup lowered shares of MercadoLibre from a “buy” rating to a “neutral” rating and lowered their target price for the company from $2,200.00 to $1,950.00 in a report on Wednesday, May 13th. JPMorgan Chase & Co. reduced their price objective on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Daiwa Securities Group cut MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective for the company. in a research note on Friday, May 8th. Zacks Research cut MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 22nd. Finally, BTIG Research restated a “buy” rating and set a $2,150.00 price target on shares of MercadoLibre in a report on Tuesday, June 2nd.

MercadoLibre Stock Up 3.4%

NASDAQ:MELI opened at $1,675.10 on Monday. The firm’s 50-day moving average price is $1,687.25 and its 200-day moving average price is $1,843.28. The company has a market capitalization of $84.93 billion, a PE ratio of 44.21, a P/E/G ratio of 1.00 and a beta of 1.36. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. MercadoLibre has a 1-year low of $1,495.00 and a 1-year high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The business had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same period last year, the business earned $9.74 earnings per share. The company’s revenue was up 49.0% on a year-over-year basis. On average, equities analysts predict that MercadoLibre will post 40.97 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of MercadoLibre stock in a transaction on Friday, May 22nd. The stock was acquired at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the purchase, the director owned 5,355 shares in the company, valued at $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On MercadoLibre

Institutional investors have recently made changes to their positions in the company. Laurel Wealth Advisors LLC purchased a new position in MercadoLibre in the 4th quarter worth approximately $26,000. Transamerica Financial Advisors LLC purchased a new stake in MercadoLibre during the 4th quarter valued at $26,000. Purpose Unlimited Inc. bought a new stake in shares of MercadoLibre in the 4th quarter worth $28,000. Darwin Wealth Management LLC bought a new stake in shares of MercadoLibre in the 2nd quarter worth $29,000. Finally, Curio Wealth LLC purchased a new position in shares of MercadoLibre in the fourth quarter worth $30,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Company Profile

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.