MercadoLibre (NASDAQ:MELI) Receives New Coverage from Analysts at Raymond James

by · The Cerbat Gem

Raymond James began coverage on shares of MercadoLibre (NASDAQ:MELI – Free Report) in a research report sent to investors on Friday, Marketbeat Ratings reports. The firm issued an outperform rating and a $2,350.00 price target on the stock.

Other equities research analysts have also recently issued research reports about the stock. Cantor Fitzgerald reissued an overweight rating and set a $2,530.00 target price on shares of MercadoLibre in a research report on Monday, September 23rd. Morgan Stanley raised their price objective on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an overweight rating in a research report on Friday, September 20th. Susquehanna upped their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a positive rating in a research report on Wednesday, August 28th. StockNews.com downgraded MercadoLibre from a buy rating to a hold rating in a report on Saturday, August 10th. Finally, JPMorgan Chase & Co. boosted their target price on shares of MercadoLibre from $2,150.00 to $2,400.00 and gave the stock an overweight rating in a research report on Tuesday, August 6th. Two research 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. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $2,217.50.

Get Our Latest Analysis on MELI

MercadoLibre Trading Down 0.6 %

MELI opened at $2,051.96 on Friday. 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 firm has a market cap of $104.03 billion, a price-to-earnings ratio of 91.81, a PEG ratio of 1.34 and a beta of 1.61. MercadoLibre has a 12 month low of $1,141.04 and a 12 month high of $2,161.73. The stock has a fifty day moving average price of $1,948.50 and a 200-day moving average price of $1,716.05.

MercadoLibre (NASDAQ:MELI – Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the previous year, the company posted $5.16 earnings per share. The firm’s revenue was up 41.5% on a year-over-year basis. As a group, equities research analysts anticipate that MercadoLibre will post 35.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Paragon Capital Management Inc. increased its position in shares of MercadoLibre by 6.8% during the second quarter. Paragon Capital Management Inc. now owns 1,382 shares of the company’s stock worth $2,271,000 after purchasing an additional 88 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of MercadoLibre by 71.0% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 34,192 shares of the company’s stock valued at $56,191,000 after purchasing an additional 14,192 shares during the last quarter. University of Texas Texas AM Investment Management Co. boosted its stake in MercadoLibre by 211.8% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 689 shares of the company’s stock worth $1,132,000 after buying an additional 468 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of MercadoLibre during the 2nd quarter worth approximately $3,855,000. Finally, Souders Financial Advisors acquired a new stake in shares of MercadoLibre in the second quarter valued at $204,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Company Profile

(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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