MercadoLibre’s (MELI) “Buy” Rating Reaffirmed at BTIG Research

BTIG Research reiterated their buy rating on shares of MercadoLibre (NASDAQ:MELI) in a research note released on Friday morning,Benzinga reports. BTIG Research currently has a $2,750.00 price objective on the stock.

A number of other analysts have also commented on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of MercadoLibre in a research note on Friday, October 31st. Benchmark decreased their price target on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Morgan Stanley lifted their price target on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Barclays raised their target price on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, Susquehanna cut their price target on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2,854.71.

MercadoLibre Price Performance

MELI stock traded up $17.84 on Friday, reaching $2,048.89. 600,433 shares of the company’s stock were exchanged, compared to its average volume of 417,911. The stock has a fifty day moving average of $2,256.65 and a 200-day moving average of $2,372.07. The firm has a market cap of $103.87 billion, a PE ratio of 50.00, a P/E/G ratio of 1.56 and a beta of 1.51. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. MercadoLibre has a twelve month low of $1,646.00 and a twelve month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The company had revenue of $7.41 billion for the quarter, compared to analyst estimates of $7.19 billion. During the same period last year, the company earned $7.83 earnings per share. The business’s revenue for the quarter was up 39.5% compared to the same quarter last year. As a group, equities analysts predict that MercadoLibre will post 43.96 EPS 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 MELI. Darwin Wealth Management LLC purchased a new stake in shares of MercadoLibre during the 2nd quarter worth about $29,000. GW&K Investment Management LLC acquired a new position in MercadoLibre during the first quarter valued at approximately $25,000. Close Asset Management Ltd grew its stake in MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after buying an additional 11 shares during the period. Highline Wealth Partners LLC increased its position in shares of MercadoLibre by 366.7% in the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock worth $37,000 after acquiring an additional 11 shares in the last quarter. Finally, Brooklyn Investment Group increased its position in shares of MercadoLibre by 650.0% in the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after acquiring an additional 13 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

About MercadoLibre

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.