Mercadolibre Inc (MELI) Receives $494.20 Consensus PT from Brokerages

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Shares of Mercadolibre Inc (NASDAQ:MELI) have been given a consensus recommendation of “Buy” by the eighteen brokerages that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $504.54.

MELI has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Mercadolibre from a “hold” rating to a “buy” rating and set a $608.00 price objective for the company in a research note on Friday, May 10th. BBA Icatu Securities lowered shares of Mercadolibre from an “outperform” rating to an “underperform” rating and increased their price objective for the company from $400.00 to $520.00 in a research note on Wednesday, May 8th. Barclays reiterated a “buy” rating on shares of Mercadolibre in a research note on Sunday, May 5th. Stifel Nicolaus increased their price objective on shares of Mercadolibre from $500.00 to $560.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Finally, Susquehanna Bancshares upgraded shares of Mercadolibre from a “negative” rating to a “neutral” rating in a research note on Friday, May 3rd.

In related news, Director Emiliano Calemzuk purchased 120 shares of the firm’s stock in a transaction dated Saturday, March 9th. The stock was bought at an average price of $414.14 per share, for a total transaction of $49,696.80. Following the purchase, the director now directly owns 2,669 shares in the company, valued at approximately $1,105,339.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.40% of the company’s stock.

Several hedge funds have recently modified their holdings of MELI. Virtu Financial LLC purchased a new position in Mercadolibre in the 1st quarter valued at approximately $3,985,000. Vanguard Group Inc grew its stake in Mercadolibre by 6.8% in the 3rd quarter. Vanguard Group Inc now owns 247,917 shares of the company’s stock valued at $84,408,000 after buying an additional 15,724 shares in the last quarter. LPL Financial LLC grew its stake in Mercadolibre by 4.6% in the 4th quarter. LPL Financial LLC now owns 7,485 shares of the company’s stock valued at $2,192,000 after buying an additional 328 shares in the last quarter. Hudson Bay Capital Management LP purchased a new position in Mercadolibre in the 4th quarter valued at approximately $3,221,000. Finally, National Pension Service grew its stake in Mercadolibre by 4.7% in the 4th quarter. National Pension Service now owns 54,721 shares of the company’s stock valued at $19,691,000 after buying an additional 2,452 shares in the last quarter. Institutional investors own 81.58% of the company’s stock.

NASDAQ MELI traded up $16.07 during trading hours on Friday, hitting $578.76. The company’s stock had a trading volume of 27,694 shares, compared to its average volume of 635,916. Mercadolibre has a 52 week low of $257.52 and a 52 week high of $589.56. The stock has a market cap of $26.78 billion, a price-to-earnings ratio of -708.44 and a beta of 2.14. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.82 and a current ratio of 2.82.

Mercadolibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.14. Mercadolibre had a negative net margin of 0.74% and a negative return on equity of 1.55%. The business had revenue of $474.00 million for the quarter, compared to analysts’ expectations of $423.19 million. During the same quarter last year, the firm earned ($0.29) EPS. The firm’s revenue for the quarter was up 47.7% compared to the same quarter last year. On average, sell-side analysts predict that Mercadolibre will post 0.91 EPS for the current year.

Mercadolibre Company Profile

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.

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Analyst Recommendations for Mercadolibre (NASDAQ:MELI)

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