MercadoLibre (NASDAQ:MELI) Earns “Outperform” Rating from Wedbush

Wedbush restated their outperform rating on shares of MercadoLibre (NASDAQ:MELI) in a research note published on Thursday morning,RTT News reports. Wedbush currently has a $2,200.00 price target on the stock, up from their previous price target of $2,000.00.

A number of other research firms also recently weighed in on MELI. The Goldman Sachs Group increased their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Raymond James started coverage on shares of MercadoLibre in a research report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective for the company. BTIG Research increased their price objective on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Morgan Stanley boosted their target price on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Finally, Redburn Atlantic started coverage on shares of MercadoLibre in a report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target for the company. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2,309.67.

MercadoLibre Stock Performance

Shares of MercadoLibre stock traded up $97.96 during trading hours on Thursday, hitting $1,872.01. 1,357,175 shares of the company were exchanged, compared to its average volume of 267,932. MercadoLibre has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. The stock has a market capitalization of $94.91 billion, a price-to-earnings ratio of 66.06, a P/E/G ratio of 1.30 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 business has a 50-day moving average of $2,046.45 and a 200-day moving average of $1,822.55.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.83 earnings per share for the quarter, missing analysts’ consensus estimates of $11.27 by ($3.44). MercadoLibre had a return on equity of 42.61% and a net margin of 7.57%. The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.25 billion. As a group, analysts expect that MercadoLibre will post 37.28 EPS for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

A number of institutional investors have recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. increased its holdings in MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after buying an additional 16 shares during the period. Optimum Investment Advisors grew its stake in shares of MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after purchasing an additional 15 shares during the last quarter. Financial Connections Group Inc. acquired a new stake in MercadoLibre during the 2nd quarter valued at approximately $36,000. Quarry LP bought a new stake in MercadoLibre during the second quarter valued at $43,000. Finally, Legacy Bridge LLC increased its holdings in MercadoLibre by 53.3% in the third quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock worth $47,000 after purchasing an additional 8 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

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.