Goldman Sachs Group set a $713.00 price target on Mercadolibre (NASDAQ:MELI) in a research note issued to investors on Tuesday, TipRanks reports. The brokerage currently has a buy rating on the stock.
Other research analysts have also issued reports about the company. Cowen set a $651.00 target price on Mercadolibre and gave the company a hold rating in a report on Monday, August 12th. Citigroup raised Mercadolibre from a neutral rating to a buy rating and boosted their target price for the company from $609.00 to $729.00 in a report on Thursday, August 8th. HSBC raised Mercadolibre from a hold rating to a buy rating and boosted their target price for the company from $575.00 to $800.00 in a report on Monday. Barclays boosted their target price on Mercadolibre from $615.00 to $730.00 and gave the company an overweight rating in a report on Tuesday, July 16th. Finally, BTIG Research raised Mercadolibre from a neutral rating to a buy rating and set a $720.00 target price for the company in a report on Monday. One analyst has rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $665.69.
MELI stock traded up $0.27 during midday trading on Tuesday, hitting $572.00. 731 shares of the company’s stock were exchanged, compared to its average volume of 405,935. The business has a 50-day simple moving average of $615.85 and a two-hundred day simple moving average of $564.68. The company has a current ratio of 2.54, a quick ratio of 2.53 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $27.30 billion, a PE ratio of -692.71 and a beta of 1.71. Mercadolibre has a 1-year low of $257.52 and a 1-year high of $698.98.
Mercadolibre (NASDAQ:MELI) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.03. Mercadolibre had a return on equity of 1.24% and a net margin of 0.87%. The business had revenue of $545.24 million during the quarter, compared to analysts’ expectations of $507.68 million. During the same period in the previous year, the firm posted ($0.25) earnings per share. The company’s revenue was up 62.6% on a year-over-year basis. As a group, research analysts expect that Mercadolibre will post 0.58 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NEXT Financial Group Inc increased its holdings in shares of Mercadolibre by 104.3% during the 2nd 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 position in shares of Mercadolibre during the first quarter worth about $32,000. CENTRAL TRUST Co lifted its position in shares of Mercadolibre by 62.5% during the second quarter. CENTRAL TRUST Co now owns 52 shares of the company’s stock worth $33,000 after purchasing an additional 20 shares during the last quarter. Advisory Alpha LLC bought a new position in shares of Mercadolibre during the first quarter worth about $37,000. Finally, Emerald Investment Partners LLC bought a new position in Mercadolibre in the second quarter worth about $37,000. Institutional investors and hedge funds own 83.69% of the company’s stock.
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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