Brokerages Set MercadoLibre, Inc. (NASDAQ:MELI) PT at $1,670.50

Shares of MercadoLibre, Inc. (NASDAQ:MELIGet Rating) have received an average rating of “Buy” from the fifteen brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $1,670.50.

A number of research analysts have commented on the stock. Susquehanna Bancshares dropped their price objective on shares of MercadoLibre from $1,990.00 to $1,750.00 and set a “positive” rating on the stock in a research note on Wednesday, February 23rd. Susquehanna lowered their target price on shares of MercadoLibre from $1,990.00 to $1,750.00 and set a “positive” rating on the stock in a report on Wednesday, February 23rd. Zacks Investment Research downgraded shares of MercadoLibre from a “hold” rating to a “strong sell” rating and set a $956.00 target price on the stock. in a report on Wednesday, March 2nd. TheStreet raised shares of MercadoLibre from a “d+” rating to a “c-” rating in a report on Friday, May 6th. Finally, Stifel Nicolaus lowered their target price on shares of MercadoLibre from $1,600.00 to $1,400.00 and set a “buy” rating on the stock in a report on Wednesday, February 23rd.

In other MercadoLibre news, Director Emiliano Calemzuk sold 75 shares of the company’s stock in a transaction dated Monday, March 7th. The shares were sold at an average price of $1,008.61, for a total value of $75,645.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP La Serna Juan Martin De purchased 100 shares of MercadoLibre stock in a transaction on Wednesday, March 9th. The stock was acquired at an average cost of $939.00 per share, for a total transaction of $93,900.00. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 205 shares of company stock worth $188,950. 0.39% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Future Financial Wealth Managment LLC purchased a new stake in shares of MercadoLibre in the fourth quarter valued at about $27,000. Ahrens Investment Partners LLC purchased a new position in shares of MercadoLibre during the fourth quarter valued at approximately $27,000. Retirement Planning Co of New England Inc. purchased a new position in shares of MercadoLibre during the fourth quarter valued at approximately $26,000. Masso Torrence Wealth Management Inc. purchased a new stake in MercadoLibre in the 4th quarter worth approximately $31,000. Finally, San Luis Wealth Advisors LLC acquired a new position in MercadoLibre in the 1st quarter valued at $31,000. 79.61% of the stock is currently owned by institutional investors.

NASDAQ MELI traded up $25.95 during trading on Friday, reaching $813.76. The company’s stock had a trading volume of 14,344 shares, compared to its average volume of 665,880. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.36 and a current ratio of 1.40. The firm has a market cap of $41.00 billion, a price-to-earnings ratio of 214.66 and a beta of 1.56. MercadoLibre has a twelve month low of $640.00 and a twelve month high of $1,970.13. The business’s fifty day moving average price is $1,051.52 and its 200-day moving average price is $1,149.21.

MercadoLibre (NASDAQ:MELIGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.34). The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.06 billion. MercadoLibre had a net margin of 2.30% and a return on equity of 21.93%. The company’s revenue for the quarter was up 63.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 earnings per share. As a group, sell-side analysts forecast that MercadoLibre will post 6.79 EPS for the current fiscal year.

About MercadoLibre (Get Rating)

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; and Mercado Pago FinTech, 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.

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Analyst Recommendations for MercadoLibre (NASDAQ:MELI)

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