MercadoLibre (NASDAQ:MELI) Price Target Raised to $2,760.00 at Susquehanna

MercadoLibre (NASDAQ:MELI) had its target price increased by Susquehanna from $2,350.00 to $2,760.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna’s price objective would indicate a potential upside of 22.17% from the stock’s previous close.

Several other brokerages have also recently weighed in on MELI. Citigroup decreased their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. JPMorgan Chase & Co. cut their price objective on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Cantor Fitzgerald cut their price objective on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective for the company in a research report on Tuesday, January 21st. Finally, New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, MercadoLibre has an average rating of “Buy” and an average price target of $2,320.31.

MercadoLibre Stock Up 7.0 %

MELI stock traded up $148.76 during trading hours on Friday, reaching $2,259.23. 393,979 shares of the stock were exchanged, compared to its average volume of 340,704. The firm’s 50-day moving average is $1,858.57 and its 200-day moving average is $1,952.94. The company has a market cap of $114.54 billion, a price-to-earnings ratio of 79.71, a PEG ratio of 1.10 and a beta of 1.62. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre has a 12 month low of $1,324.99 and a 12 month high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating the consensus estimate of $10.21 by $2.40. The company had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $5.94 billion. MercadoLibre had a return on equity of 40.71% and a net margin of 7.57%. On average, equities research analysts expect that MercadoLibre will post 32.98 earnings per share for the current year.

Insider Activity at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the sale, the director now owns 238 shares of the company’s stock, valued at $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.06% of the stock is currently owned by insiders.

Institutional Trading of MercadoLibre

Several institutional investors have recently modified their holdings of MELI. Human Investing LLC bought a new stake in shares of MercadoLibre in the fourth quarter worth $26,000. Pacific Capital Wealth Advisors Inc. lifted its holdings in MercadoLibre by 220.0% in the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 11 shares during the period. Brown Lisle Cummings Inc. lifted its holdings in MercadoLibre by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 8 shares during the period. Covestor Ltd acquired a new position in MercadoLibre in the fourth quarter valued at $27,000. Finally, Heck Capital Advisors LLC acquired a new position in MercadoLibre in the fourth quarter valued at $32,000. Institutional investors own 87.62% of the company’s stock.

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.