Mercadolibre (NASDAQ:MELI) Price Target Increased to $760.00 by Analysts at Piper Sandler

Mercadolibre (NASDAQ:MELI) had its target price lifted by Piper Sandler from $675.00 to $760.00 in a report issued on Wednesday morning, The Fly reports. They currently have an overweight rating on the stock.

MELI has been the topic of several other reports. BidaskClub raised shares of Mercadolibre from a buy rating to a strong-buy rating in a research report on Saturday, January 18th. ValuEngine cut shares of Mercadolibre from a buy rating to a hold rating in a research report on Tuesday, December 3rd. Itau BBA Securities raised shares of Mercadolibre from an underperform rating to a market perform rating in a report on Monday, December 30th. TheStreet raised shares of Mercadolibre from a d+ rating to a c- rating in a report on Monday, December 23rd. Finally, Morgan Stanley reaffirmed an overweight rating and issued a $710.00 target price on shares of Mercadolibre in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $666.89.

NASDAQ:MELI traded up $0.18 on Wednesday, hitting $663.33. 265,940 shares of the company’s stock were exchanged, compared to its average volume of 476,509. The firm has a 50-day moving average price of $611.75 and a 200-day moving average price of $587.57. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.73 and a quick ratio of 2.72. Mercadolibre has a 52 week low of $330.00 and a 52 week high of $698.98. The company has a market cap of $32.73 billion, a P/E ratio of -258.11 and a beta of 1.59.

Mercadolibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($2.96) EPS for the quarter, missing the consensus estimate of $0.01 by ($2.97). Mercadolibre had a negative return on equity of 1.29% and a negative net margin of 5.87%. The business had revenue of $603.03 million for the quarter, compared to the consensus estimate of $588.23 million. During the same period last year, the firm earned ($0.23) earnings per share. The company’s quarterly revenue was up 69.7% compared to the same quarter last year. On average, research analysts expect that Mercadolibre will post -1.06 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bartlett & Co. LLC acquired a new position in Mercadolibre in the 3rd quarter valued at about $26,000. Reilly Financial Advisors LLC grew its stake in Mercadolibre by 64.5% in the 3rd quarter. Reilly Financial Advisors LLC now owns 51 shares of the company’s stock valued at $28,000 after buying an additional 20 shares during the last quarter. Lindbrook Capital LLC acquired a new position in Mercadolibre in the 3rd quarter valued at about $28,000. CWM LLC grew its stake in Mercadolibre by 912.5% in the 3rd quarter. CWM LLC now owns 81 shares of the company’s stock valued at $45,000 after buying an additional 73 shares during the last quarter. Finally, NEXT Financial Group Inc grew its stake in Mercadolibre by 104.3% in the 3rd quarter. NEXT Financial Group Inc now owns 96 shares of the company’s stock valued at $53,000 after buying an additional 49 shares during the last quarter. Institutional investors and hedge funds own 81.14% 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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The Fly

Analyst Recommendations for Mercadolibre (NASDAQ:MELI)

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