MercadoLibre (NASDAQ:MELI) Research Coverage Started at Cantor Fitzgerald

Cantor Fitzgerald assumed coverage on shares of MercadoLibre (NASDAQ:MELI) in a report published on Thursday morning, MarketBeat.com reports. The firm issued an overweight rating and a $2,530.00 target price on the stock.

Other analysts also recently issued research reports about the company. The Goldman Sachs Group boosted their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a buy rating in a research report on Thursday, August 8th. Jefferies Financial Group upgraded MercadoLibre from a hold rating to a buy rating and boosted their price objective for the company from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. Citigroup boosted their price objective on MercadoLibre from $2,000.00 to $2,200.00 and gave the company a buy rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. boosted their target price on MercadoLibre from $2,150.00 to $2,400.00 and gave the company an overweight rating in a research note on Tuesday, August 6th. Finally, Dbs Bank raised MercadoLibre from a hold rating to a strong-buy rating in a research note on Thursday, July 11th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $2,141.25.

MercadoLibre Stock Performance

Shares of MELI opened at $1,986.05 on Thursday. The company has a market cap of $100.69 billion, a PE ratio of 88.86, a price-to-earnings-growth ratio of 1.36 and a beta of 1.61. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The stock has a 50-day moving average price of $1,814.44 and a 200-day moving average price of $1,659.56. MercadoLibre has a 12-month low of $1,141.04 and a 12-month high of $2,064.76.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. MercadoLibre’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.16 EPS. As a group, equities analysts forecast that MercadoLibre will post 35.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MELI. GQG Partners LLC grew its stake in shares of MercadoLibre by 442.2% in the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after acquiring an additional 648,198 shares during the last quarter. Norges Bank purchased a new stake in shares of MercadoLibre in the fourth quarter worth $554,386,000. Price T Rowe Associates Inc. MD grew its stake in shares of MercadoLibre by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after acquiring an additional 232,787 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of MercadoLibre in the second quarter worth $2,913,000. Finally, Janus Henderson Group PLC grew its stake in shares of MercadoLibre by 55.8% in the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after acquiring an additional 132,028 shares during 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.