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

MercadoLibre (NASDAQ:MELI)‘s stock had its “buy” rating reissued by stock analysts at BTIG Research in a report released on Tuesday,Benzinga reports. They currently have a $2,150.00 price objective on the stock. BTIG Research’s target price suggests a potential upside of 24.21% from the company’s previous close.

Other equities analysts have also issued reports about the company. Morgan Stanley decreased their price target on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Cantor Fitzgerald decreased their price target on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. Benchmark decreased their price target on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Wedbush decreased their price target on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Finally, Itau BBA Securities reissued an “outperform” rating on shares of MercadoLibre in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $2,255.33.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $1,730.98 on Tuesday. The stock has a fifty day moving average price of $1,720.80 and a two-hundred day moving average price of $1,898.53. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The firm has a market cap of $87.76 billion, a P/E ratio of 45.68, a PEG ratio of 1.04 and a beta of 1.36. 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). The firm had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The business’s revenue for the quarter was up 49.0% compared to the same quarter last year. During the same period in the previous year, the business posted $9.74 earnings per share. Research analysts forecast that MercadoLibre will post 40.97 EPS for the current fiscal year.

Insider Activity

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of MercadoLibre stock in a transaction dated Friday, May 22nd. The stock was bought at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the acquisition, the director directly owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is owned by insiders.

Institutional Trading of MercadoLibre

A number of hedge funds have recently modified their holdings of the business. Hardy Reed LLC lifted its holdings in shares of MercadoLibre by 4.0% in the third quarter. Hardy Reed LLC now owns 131 shares of the company’s stock valued at $306,000 after purchasing an additional 5 shares in the last quarter. Rothschild Investment LLC raised its holdings in shares of MercadoLibre by 35.7% during the third quarter. Rothschild Investment LLC now owns 19 shares of the company’s stock worth $44,000 after acquiring an additional 5 shares in the last quarter. Interchange Capital Partners LLC raised its holdings in shares of MercadoLibre by 2.1% during the fourth quarter. Interchange Capital Partners LLC now owns 243 shares of the company’s stock worth $490,000 after acquiring an additional 5 shares in the last quarter. Cornerstone Select Advisors LLC raised its holdings in shares of MercadoLibre by 2.9% during the fourth quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company’s stock worth $355,000 after acquiring an additional 5 shares in the last quarter. Finally, Mitchell Capital Management Co. raised its holdings in shares of MercadoLibre by 0.4% during the fourth quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company’s stock worth $2,542,000 after acquiring an additional 5 shares in the last quarter. 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.