Mercadolibre Inc (NASDAQ:MELI) has earned a consensus recommendation of “Buy” from the eighteen ratings firms that are covering the firm, reports. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $504.54.

A number of equities analysts have weighed in on the company. BTIG Research reaffirmed a “buy” rating and set a $410.00 price target on shares of Mercadolibre in a research report on Wednesday, January 16th. BidaskClub cut Mercadolibre from a “buy” rating to a “hold” rating in a research note on Friday, January 25th. Credit Suisse Group upped their price objective on Mercadolibre from $387.00 to $398.00 and gave the stock an “outperform” rating in a research note on Monday, January 28th. Deutsche Bank initiated coverage on Mercadolibre in a research note on Tuesday, January 29th. They set a “hold” rating on the stock. Finally, ValuEngine cut Mercadolibre from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 29th.

In other news, Director Emiliano Calemzuk acquired 120 shares of the firm’s stock in a transaction on Saturday, March 9th. The shares were purchased at an average cost of $414.14 per share, with a total value of $49,696.80. Following the acquisition, the director now directly owns 2,669 shares in the company, valued at approximately $1,105,339.66. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.32% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. Norges Bank purchased a new position in Mercadolibre during the fourth quarter worth about $110,161,000. Coronation Fund Managers Ltd. raised its holdings in Mercadolibre by 22,651.7% in the 4th quarter. Coronation Fund Managers Ltd. now owns 219,099 shares of the company’s stock worth $64,163,000 after purchasing an additional 218,136 shares during the period. RWC Asset Advisors US LLC bought a new position in Mercadolibre in the 4th quarter worth $46,149,000. 1832 Asset Management L.P. bought a new position in Mercadolibre in the 4th quarter worth $38,915,000. Finally, Baillie Gifford & Co. raised its holdings in Mercadolibre by 2.3% in the 4th quarter. Baillie Gifford & Co. now owns 5,208,620 shares of the company’s stock worth $1,525,344,000 after purchasing an additional 117,948 shares during the period. Institutional investors and hedge funds own 82.80% of the company’s stock.

Shares of MELI traded down $13.83 on Friday, hitting $544.01. The company’s stock had a trading volume of 6,031 shares, compared to its average volume of 618,198. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.29 and a current ratio of 2.82. Mercadolibre has a fifty-two week low of $257.52 and a fifty-two week high of $589.56. The firm has a market capitalization of $26.79 billion, a PE ratio of -665.66 and a beta of 2.14.

Mercadolibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.14. Mercadolibre had a negative return on equity of 1.55% and a negative net margin of 0.74%. The business had revenue of $474.00 million during the quarter, compared to analyst estimates of $423.19 million. During the same period in the previous year, the firm earned ($0.29) EPS. Mercadolibre’s quarterly revenue was up 47.7% compared to the same quarter last year. Equities research analysts predict that Mercadolibre will post 0.91 EPS for the current fiscal year.

Mercadolibre Company Profile

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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