Mercadolibre Inc (NASDAQ:MELI) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Mercadolibre Inc (NASDAQ:MELI) have been given a consensus recommendation of “Buy” by the nineteen research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $639.33.

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus increased their price objective on shares of Mercadolibre from $560.00 to $650.00 and gave the company a “hold” rating in a report on Thursday, August 8th. BidaskClub lowered shares of Mercadolibre from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Deutsche Bank increased their price objective on shares of Mercadolibre from $600.00 to $725.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. 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 report on Wednesday, May 8th. Finally, Piper Jaffray Companies increased their price objective on shares of Mercadolibre from $584.00 to $675.00 and gave the company an “overweight” rating in a report on Thursday, August 8th.

Mercadolibre stock traded down $16.30 during midday trading on Friday, hitting $603.10. The stock had a trading volume of 10,004 shares, compared to its average volume of 604,629. The firm’s fifty day moving average is $634.48 and its two-hundred day moving average is $541.87. The company has a market capitalization of $29.92 billion, a PE ratio of -735.00 and a beta of 1.76. Mercadolibre has a 52-week low of $257.52 and a 52-week high of $698.98. The company has a current ratio of 2.54, a quick ratio of 2.53 and a debt-to-equity ratio of 0.36.

Mercadolibre (NASDAQ:MELI) last released its earnings results on Wednesday, August 7th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.03. Mercadolibre had a net margin of 0.87% and a return on equity of 1.24%. The company had revenue of $545.24 million during the quarter, compared to analyst estimates of $507.68 million. During the same period in the prior year, the firm posted ($0.25) EPS. The firm’s quarterly revenue was up 62.6% compared to the same quarter last year. As a group, equities research analysts predict that Mercadolibre will post 0.69 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of MELI. Harvest Group Wealth Management LLC bought a new stake in Mercadolibre in the first quarter worth $28,000. NEXT Financial Group Inc lifted its position in Mercadolibre by 104.3% in the second quarter. NEXT Financial Group Inc now owns 47 shares of the company’s stock worth $29,000 after buying an additional 24 shares during the last quarter. Icon Wealth Partners LLC bought a new stake in Mercadolibre in the first quarter worth $32,000. CENTRAL TRUST Co lifted its position in Mercadolibre by 62.5% in the second quarter. CENTRAL TRUST Co now owns 52 shares of the company’s stock worth $33,000 after buying an additional 20 shares during the last quarter. Finally, Carroll Financial Associates Inc. lifted its position in Mercadolibre by 59.5% in the first quarter. Carroll Financial Associates Inc. now owns 67 shares of the company’s stock worth $34,000 after buying an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 83.37% of the company’s stock.

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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