MercadoLibre (NASDAQ:MELI) Stock Rating Upgraded by Wall Street Zen

MercadoLibre (NASDAQ:MELI) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Other research analysts have also recently issued research reports about the stock. Benchmark cut shares of MercadoLibre from a “buy” rating to a “cautious” rating in a research note on Thursday, May 1st. Cantor Fitzgerald lowered their price objective on MercadoLibre from $2,900.00 to $2,700.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 11th. JPMorgan Chase & Co. upped their price objective on MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a “neutral” rating in a research note on Thursday, May 22nd. The Goldman Sachs Group lifted their target price on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a “buy” rating in a research note on Wednesday, May 14th. Finally, Morgan Stanley reissued an “overweight” rating on shares of MercadoLibre in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,632.50.

MercadoLibre Stock Performance

Shares of MELI opened at $2,371.98 on Friday. The business has a 50-day simple moving average of $2,340.95 and a two-hundred day simple moving average of $2,074.79. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre has a 52 week low of $1,550.00 and a 52 week high of $2,635.88. The stock has a market cap of $120.25 billion, a price-to-earnings ratio of 62.92, a PEG ratio of 1.12 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.82 by $1.92. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The company had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.55 billion. During the same period in the prior year, the firm posted $6.78 EPS. The firm’s quarterly revenue was up 37.0% compared to the same quarter last year. On average, analysts expect that MercadoLibre will post 43.96 EPS for the current year.

Institutional Trading of MercadoLibre

A number of large investors have recently made changes to their positions in the business. Key Financial Inc bought a new stake in MercadoLibre during the first quarter worth approximately $25,000. GW&K Investment Management LLC purchased a new position in shares of MercadoLibre in the 1st quarter worth approximately $25,000. Human Investing LLC bought a new position in shares of MercadoLibre during the 4th quarter valued at approximately $26,000. Park Square Financial Group LLC purchased a new stake in MercadoLibre during the 4th quarter valued at $26,000. Finally, Covestor Ltd bought a new stake in MercadoLibre in the fourth quarter worth $27,000. 87.62% of the stock is currently owned by institutional investors.

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.