MercadoLibre (NASDAQ:MELI) Rating Reiterated by Wedbush

MercadoLibre (NASDAQ:MELI)‘s stock had its “outperform” rating reissued by Wedbush in a report issued on Friday, Benzinga reports. They presently have a $1,800.00 target price on the stock. Wedbush’s price target would suggest a potential upside of 10.39% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. UBS Group lowered their price target on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. JPMorgan Chase & Co. raised their price target on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Susquehanna raised their target price on MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a research report on Friday, February 23rd. Finally, Barclays decreased their price target on MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,805.00.

MercadoLibre Stock Up 8.3 %

NASDAQ MELI opened at $1,630.56 on Friday. MercadoLibre has a twelve month low of $1,063.02 and a twelve month high of $1,825.00. The stock has a market cap of $82.67 billion, a PE ratio of 72.96, a PEG ratio of 1.09 and a beta of 1.45. The firm has a 50-day simple moving average of $1,499.29 and a 200 day simple moving average of $1,537.76. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, topping analysts’ consensus estimates of $6.64 by $0.14. The company had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $3.84 billion. MercadoLibre had a return on equity of 42.04% and a net margin of 7.17%. The company’s quarterly revenue was up 36.0% on a year-over-year basis. During the same quarter last year, the company earned $3.97 EPS. On average, research analysts forecast that MercadoLibre will post 34.46 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Howland Capital Management LLC raised its stake in shares of MercadoLibre by 2.2% in the first quarter. Howland Capital Management LLC now owns 16,420 shares of the company’s stock worth $24,826,000 after acquiring an additional 353 shares during the last quarter. WBI Investments LLC acquired a new stake in shares of MercadoLibre in the first quarter valued at approximately $209,000. Team Hewins LLC bought a new position in MercadoLibre in the 1st quarter worth approximately $319,000. Csenge Advisory Group lifted its holdings in MercadoLibre by 1.0% during the 1st quarter. Csenge Advisory Group now owns 1,119 shares of the company’s stock worth $1,692,000 after buying an additional 11 shares in the last quarter. Finally, Mediolanum International Funds Ltd acquired a new stake in shares of MercadoLibre in the 1st quarter valued at $7,973,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Company Profile

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.