Barclays Forecasts Strong Price Appreciation for MercadoLibre (NASDAQ:MELI) Stock

MercadoLibre (NASDAQ:MELI) had its target price upped by Barclays from $2,200.00 to $2,500.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 10.62% from the stock’s current price.

Other analysts have also issued reports about the company. Citigroup lowered 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. Bank of America upped their target price on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a report on Friday. Cantor Fitzgerald lowered their target price on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. BTIG Research lowered their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and upped their target price for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $2,364.06.

MercadoLibre Stock Up 7.1 %

Shares of MercadoLibre stock opened at $2,260.00 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The firm has a market cap of $114.58 billion, a P/E ratio of 59.95, a P/E/G ratio of 1.12 and a beta of 1.62. MercadoLibre has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54. The business has a 50-day moving average price of $1,867.29 and a 200 day moving average price of $1,957.32.

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 firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. On average, sell-side analysts forecast that MercadoLibre will post 43.96 earnings per share for the current fiscal year.

Insider Transactions at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the sale, the director now directly owns 238 shares in the company, valued at $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On MercadoLibre

A number of institutional investors have recently added to or reduced their stakes in the company. Planning Capital Management Corp lifted its position in MercadoLibre by 9.1% in the third quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock worth $123,000 after purchasing an additional 5 shares during the period. Mount Lucas Management LP lifted its position in MercadoLibre by 3.6% in the third quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock worth $293,000 after purchasing an additional 5 shares during the period. 1620 Investment Advisors Inc. lifted its position in shares of MercadoLibre by 2.5% during the 4th quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company’s stock valued at $346,000 after acquiring an additional 5 shares during the last quarter. Texas Yale Capital Corp. lifted its position in shares of MercadoLibre by 0.3% during the 4th quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company’s stock valued at $2,779,000 after acquiring an additional 5 shares during the last quarter. Finally, Meiji Yasuda Life Insurance Co lifted its position in shares of MercadoLibre by 0.5% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company’s stock valued at $1,699,000 after acquiring an additional 5 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

About MercadoLibre

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.