Mercadolibre’s (MELI) “Buy” Rating Reaffirmed at Deutsche Bank

Mercadolibre (NASDAQ:MELI)‘s stock had its “buy” rating reiterated by analysts at Deutsche Bank in a research report issued on Wednesday, The Fly reports. They presently have a $670.00 price target on the stock, up from their prior price target of $653.00. Deutsche Bank’s price target points to a potential upside of 15.50% from the company’s current price.

Several other brokerages have also recently commented on MELI. TheStreet cut shares of Mercadolibre from a “c” rating to a “d+” rating in a research note on Thursday, October 31st. HSBC raised shares of Mercadolibre from a “hold” rating to a “buy” rating and upped their target price for the stock from $575.00 to $800.00 in a report on Monday, September 9th. Stifel Nicolaus increased their target price on shares of Mercadolibre from $560.00 to $650.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th. BidaskClub raised shares of Mercadolibre from a “hold” rating to a “buy” rating in a report on Monday, November 25th. Finally, Citigroup raised shares of Mercadolibre from a “neutral” rating to a “buy” rating and upped their price target for the stock from $609.00 to $729.00 in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $654.13.

MELI traded up $4.85 during trading on Wednesday, reaching $580.09. 6,790 shares of the company were exchanged, compared to its average volume of 565,302. The company’s 50-day moving average is $540.94 and its two-hundred day moving average is $584.91. The company has a market cap of $28.86 billion, a price-to-earnings ratio of -707.63 and a beta of 1.63. The company has a quick ratio of 2.72, a current ratio of 2.73 and a debt-to-equity ratio of 0.38. Mercadolibre has a 12-month low of $257.52 and a 12-month high of $698.98.

Mercadolibre (NASDAQ:MELI) last posted its earnings results on Thursday, October 31st. The company reported ($2.96) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($2.97). Mercadolibre had a negative net margin of 5.87% and a negative return on equity of 1.29%. The company had revenue of $603.03 million for the quarter, compared to analysts’ expectations of $588.23 million. During the same period in the previous year, the firm earned ($0.23) EPS. The firm’s quarterly revenue was up 69.7% compared to the same quarter last year. Equities analysts forecast that Mercadolibre will post -1.15 earnings per share for the current year.

A number of large investors have recently made changes to their positions in MELI. National Pension Service raised its position in Mercadolibre by 4.9% during the 3rd quarter. National Pension Service now owns 71,409 shares of the company’s stock valued at $39,363,000 after purchasing an additional 3,345 shares during the last quarter. California State Teachers Retirement System grew its position in shares of Mercadolibre by 2.3% in the 3rd quarter. California State Teachers Retirement System now owns 3,225 shares of the company’s stock worth $1,778,000 after buying an additional 71 shares during the last quarter. First Allied Advisory Services Inc. increased its stake in shares of Mercadolibre by 6.5% during the third quarter. First Allied Advisory Services Inc. now owns 857 shares of the company’s stock valued at $480,000 after buying an additional 52 shares during the period. Corient Capital Partners LLC purchased a new position in shares of Mercadolibre during the third quarter valued at approximately $283,000. Finally, Banco Santander S.A. raised its holdings in shares of Mercadolibre by 186.2% during the third quarter. Banco Santander S.A. now owns 1,076 shares of the company’s stock valued at $593,000 after acquiring an additional 700 shares in the last quarter. Institutional investors own 81.16% of the company’s stock.

About Mercadolibre

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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Analyst Recommendations for Mercadolibre (NASDAQ:MELI)

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