MercadoLibre (NASDAQ:MELI) Receives Buy Rating from BTIG Research

MercadoLibre (NASDAQ:MELI)‘s stock had its “buy” rating reaffirmed by research analysts at BTIG Research in a note issued to investors on Tuesday,Benzinga reports. They presently have a $2,150.00 price target on the stock. BTIG Research’s price target points to a potential upside of 24.21% from the company’s current price.

Several other research analysts have also recently commented on MELI. JPMorgan Chase & Co. cut their price target on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Zacks Research cut MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 22nd. Citigroup cut MercadoLibre from a “buy” rating to a “neutral” rating and cut their price target for the stock from $2,200.00 to $1,950.00 in a research note on Wednesday, May 13th. Raymond James Financial set a $2,000.00 price objective on MercadoLibre in a research note on Friday, May 8th. Finally, The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average price target of $2,255.33.

MercadoLibre Trading Up 2.1%

Shares of MELI opened at $1,730.98 on Tuesday. The stock’s 50-day moving average is $1,720.80 and its two-hundred day moving average is $1,898.53. The stock has a market cap of $87.76 billion, a PE ratio of 45.68, a P/E/G ratio of 1.04 and a beta of 1.36. MercadoLibre has a 12 month low of $1,495.00 and a 12 month high of $2,645.22. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The business had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same quarter last year, the firm posted $9.74 EPS. The company’s revenue was up 49.0% compared to the same quarter last year. Equities analysts forecast that MercadoLibre will post 40.97 earnings per share for the current fiscal year.

Insider Buying and Selling at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin purchased 600 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were acquired at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the transaction, the director owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Institutional Trading of MercadoLibre

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. raised its position in shares of MercadoLibre by 4.9% during the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock worth $7,012,773,000 after purchasing an additional 164,120 shares during the period. Capital Research Global Investors grew its holdings in MercadoLibre by 22.5% in the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after buying an additional 408,939 shares in the last quarter. Capital World Investors grew its holdings in MercadoLibre by 1.3% in the 3rd quarter. Capital World Investors now owns 1,740,129 shares of the company’s stock worth $4,067,194,000 after buying an additional 22,659 shares in the last quarter. Capital International Investors grew its holdings in MercadoLibre by 7.3% in the 4th quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock worth $3,474,880,000 after buying an additional 118,018 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in MercadoLibre by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock worth $3,188,718,000 after buying an additional 137,100 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.