MercadoLibre (NASDAQ:MELI) Receives “Outperform” Rating from Wedbush

Wedbush reiterated their outperform rating on shares of MercadoLibre (NASDAQ:MELI) in a report issued on Friday, Benzinga reports. Wedbush currently has a $1,800.00 price target on the stock.

MELI has been the subject of a number of other reports. Citigroup reduced their price target on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a buy rating for the company in a research report on Wednesday, March 27th. JPMorgan Chase & Co. boosted their target price on MercadoLibre from $2,000.00 to $2,150.00 and gave the company an overweight rating in a report on Tuesday, February 27th. Susquehanna raised their price target on MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a positive rating in a research note on Friday, February 23rd. UBS Group reduced their price objective on MercadoLibre from $1,900.00 to $1,800.00 and set a buy rating for the company in a research note on Wednesday, April 17th. Finally, DZ Bank raised MercadoLibre from a hold rating to a buy rating and set a $1,685.00 price objective for the company in a report on Tuesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $1,790.36.

MercadoLibre Stock Up 8.3 %

Shares of MELI traded up $124.57 during mid-day trading on Friday, reaching $1,630.56. The company’s stock had a trading volume of 1,346,802 shares, compared to its average volume of 395,765. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24. MercadoLibre has a 12-month low of $1,063.02 and a 12-month high of $1,825.00. The stock has a market cap of $82.67 billion, a PE ratio of 72.96, a price-to-earnings-growth ratio of 1.01 and a beta of 1.45. The company’s 50 day moving average is $1,499.29 and its 200 day moving average is $1,537.76.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, beating the consensus estimate of $6.64 by $0.14. MercadoLibre had a net margin of 7.17% and a return on equity of 42.04%. The company had revenue of $4.33 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same period in the prior year, the firm posted $3.97 earnings per share. The firm’s revenue was up 36.0% on a year-over-year basis. Equities analysts anticipate that MercadoLibre will post 34.46 EPS for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

A number of institutional investors have recently added to or reduced their stakes in MELI. Morgan Stanley grew its holdings in MercadoLibre by 10.2% during the third quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock worth $3,243,832,000 after acquiring an additional 236,744 shares during the period. Jennison Associates LLC grew its stake in shares of MercadoLibre by 1.3% during the 3rd quarter. Jennison Associates LLC now owns 2,233,430 shares of the company’s stock worth $2,831,721,000 after purchasing an additional 28,095 shares during the period. WCM Investment Management LLC increased its holdings in shares of MercadoLibre by 74.8% in the 4th quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock valued at $1,838,964,000 after purchasing an additional 497,535 shares in the last quarter. Capital International Investors lifted its stake in shares of MercadoLibre by 0.4% in the fourth quarter. Capital International Investors now owns 1,037,070 shares of the company’s stock valued at $1,630,740,000 after purchasing an additional 4,317 shares during the period. Finally, Capital World Investors boosted its holdings in MercadoLibre by 13.3% during the fourth quarter. Capital World Investors now owns 750,720 shares of the company’s stock worth $1,179,787,000 after buying an additional 88,359 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Company Profile

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.