Analysts Set MercadoLibre, Inc. (NASDAQ:MELI) Price Target at $2,402.81

Shares of MercadoLibre, Inc. (NASDAQ:MELI - Get Free Report) have been assigned a consensus recommendation of "Buy" from the seventeen analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $2,402.81.

MELI has been the subject of a number of analyst reports. New Street Research raised shares of MercadoLibre from a "neutral" rating to a "buy" rating and raised their target price for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Bank of America lifted their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Barclays increased their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. The Goldman Sachs Group lifted their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Finally, Raymond James raised shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price objective on the stock in a research report on Tuesday, January 21st.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Thrivent Financial for Lutherans boosted its holdings in shares of MercadoLibre by 11.9% in the third quarter. Thrivent Financial for Lutherans now owns 197 shares of the company's stock worth $404,000 after buying an additional 21 shares during the last quarter. Townsquare Capital LLC boosted its stake in shares of MercadoLibre by 4.7% during the 3rd quarter. Townsquare Capital LLC now owns 1,782 shares of the company's stock worth $3,657,000 after acquiring an additional 80 shares during the last quarter. Bridgewater Associates LP grew its position in shares of MercadoLibre by 17.0% during the 3rd quarter. Bridgewater Associates LP now owns 1,837 shares of the company's stock valued at $3,769,000 after acquiring an additional 267 shares during the period. CreativeOne Wealth LLC purchased a new stake in shares of MercadoLibre in the 3rd quarter worth $273,000. Finally, Fiduciary Trust Co raised its holdings in MercadoLibre by 16.1% in the 3rd quarter. Fiduciary Trust Co now owns 511 shares of the company's stock worth $1,049,000 after purchasing an additional 71 shares during the period. Institutional investors own 87.62% of the company's stock.

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MercadoLibre Stock Up 1.0 %

Shares of NASDAQ MELI traded up $19.03 during mid-day trading on Friday, hitting $1,934.03. 463,839 shares of the stock traded hands, compared to its average volume of 377,905. The company has a market cap of $98.05 billion, a price-to-earnings ratio of 51.30, a PEG ratio of 1.12 and a beta of 1.64. The stock has a fifty day moving average price of $2,034.60 and a 200-day moving average price of $1,970.61. MercadoLibre has a 52 week low of $1,324.99 and a 52 week high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating analysts' consensus estimates of $10.21 by $2.40. The firm had revenue of $6.06 billion for the quarter, compared to analysts' expectations of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. Research analysts anticipate that MercadoLibre will post 43.96 EPS for the current year.

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.