MercadoLibre (NASDAQ:MELI) Receives New Coverage from Analysts at Redburn Atlantic

by · The Markets Daily

Redburn Atlantic started coverage on shares of MercadoLibre (NASDAQ:MELI – Free Report) in a research report report published on Friday morning, Marketbeat.com reports. The firm issued a buy rating and a $2,800.00 price target on the stock.

Other equities analysts have also issued research reports about the stock. The Goldman Sachs Group raised their price objective on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a buy rating in a research report on Thursday, August 8th. Cantor Fitzgerald reaffirmed an overweight rating and set a $2,530.00 price objective on shares of MercadoLibre in a research report on Monday, October 7th. Bank of America raised their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a buy rating in a research report on Thursday, September 12th. BTIG Research raised 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 report on Wednesday, August 21st. Finally, Susquehanna raised their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a positive rating in a research report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $2,283.00.

View Our Latest Stock Report on MercadoLibre

MercadoLibre Stock Performance

MELI stock opened at $2,091.16 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The stock has a market cap of $106.02 billion, a P/E ratio of 93.56, a P/E/G ratio of 1.25 and a beta of 1.61. The firm has a 50 day simple moving average of $2,012.56 and a 200 day simple moving average of $1,743.46. MercadoLibre has a 52 week low of $1,141.04 and a 52 week high of $2,161.73.

MercadoLibre (NASDAQ:MELI – Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping the consensus estimate of $8.53 by $1.95. The business had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The firm’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same period last year, the company posted $5.16 earnings per share. Research analysts anticipate that MercadoLibre will post 37.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

A number of institutional investors have recently bought and sold shares of the business. O Dell Group LLC boosted its stake in MercadoLibre by 2.1% during the first quarter. O Dell Group LLC now owns 294 shares of the company’s stock worth $445,000 after buying an additional 6 shares in the last quarter. Belpointe Asset Management LLC boosted its stake in MercadoLibre by 1.0% during the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock worth $1,016,000 after buying an additional 6 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of MercadoLibre by 0.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock valued at $2,419,000 after purchasing an additional 6 shares in the last quarter. Evolutionary Tree Capital Management LLC boosted its stake in shares of MercadoLibre by 0.3% in the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock valued at $3,403,000 after purchasing an additional 6 shares in the last quarter. Finally, Hilltop National Bank boosted its stake in shares of MercadoLibre by 14.3% in the 2nd quarter. Hilltop National Bank now owns 56 shares of the company’s stock valued at $92,000 after purchasing an additional 7 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

About MercadoLibre

(Get Free Report)

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.

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