The Goldman Sachs Group Increases MercadoLibre (NASDAQ:MELI) Price Target to $2,750.00

MercadoLibre (NASDAQ:MELI - Get Free Report) had its price objective raised by stock analysts at The Goldman Sachs Group from $2,400.00 to $2,750.00 in a report released on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. The Goldman Sachs Group's price objective would suggest a potential upside of 30.16% from the stock's previous close.

Other equities research analysts have also recently issued reports about the company. Citigroup decreased their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating on the stock in a research report on Tuesday, November 26th. Raymond James raised MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price for the company in a research note on Tuesday, January 21st. Barclays increased their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Morgan Stanley dropped their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating for the company in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. raised their price target on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 25th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, MercadoLibre has a consensus rating of "Buy" and a consensus target price of $2,402.81.

MercadoLibre Trading Up 2.6 %

NASDAQ:MELI traded up $52.90 on Monday, reaching $2,112.77. 333,010 shares of the stock traded hands, compared to its average volume of 382,065. The firm has a market capitalization of $107.11 billion, a price-to-earnings ratio of 56.04, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. MercadoLibre has a 1-year low of $1,324.99 and a 1-year high of $2,374.54. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The company's 50 day moving average is $1,930.48 and its 200-day moving average is $1,969.77.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MELI. Capital Research Global Investors increased its position in shares of MercadoLibre by 8.0% during the fourth quarter. Capital Research Global Investors now owns 2,415,815 shares of the company's stock worth $4,108,079,000 after purchasing an additional 179,807 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of MercadoLibre by 3.9% during the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company's stock worth $3,845,207,000 after acquiring an additional 70,154 shares in the last quarter. Capital International Investors boosted its stake in shares of MercadoLibre by 38.7% during the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company's stock worth $2,868,869,000 after acquiring an additional 470,829 shares in the last quarter. Capital World Investors grew its holdings in MercadoLibre by 24.5% during the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company's stock valued at $2,667,386,000 after buying an additional 308,973 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in MercadoLibre by 41.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock valued at $2,370,848,000 after buying an additional 405,425 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other 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.