MercadoLibre (NASDAQ:MELI) Upgraded at DZ Bank

DZ Bank upgraded shares of MercadoLibre (NASDAQ:MELI) from a hold rating to a buy rating in a research note released on Tuesday morning, Marketbeat Ratings reports. DZ Bank currently has $1,685.00 target price on the stock.

MELI has been the topic of several other research reports. Susquehanna lifted their price target on MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a positive rating in a report on Friday, February 23rd. StockNews.com cut shares of MercadoLibre from a buy rating to a hold rating in a research report on Thursday, February 29th. Barclays decreased their target price on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an overweight rating on the stock in a report on Wednesday, April 3rd. Citigroup cut their price target on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a buy rating for the company in a report on Wednesday, March 27th. Finally, Wedbush reaffirmed an outperform rating and set a $2,000.00 price target on shares of MercadoLibre in a research report on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $1,790.36.

MercadoLibre Stock Down 0.5 %

Shares of NASDAQ MELI opened at $1,363.83 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The company has a 50-day moving average of $1,530.62 and a 200 day moving average of $1,527.51. MercadoLibre has a 12-month low of $1,063.02 and a 12-month high of $1,825.00. The stock has a market cap of $69.15 billion, a PE ratio of 69.80, a P/E/G ratio of 0.91 and a beta of 1.44.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $6.66 by ($3.41). MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The company had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same period in the prior year, the business posted $3.25 EPS. MercadoLibre’s revenue for the quarter was up 42.0% compared to the same quarter last year. As a group, sell-side analysts predict that MercadoLibre will post 34.46 EPS for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

Hedge funds and other institutional investors have recently made changes to their positions in the business. IFP Advisors Inc raised its holdings in MercadoLibre by 19.3% during the third quarter. IFP Advisors Inc now owns 216 shares of the company’s stock worth $274,000 after purchasing an additional 35 shares in the last quarter. Impact Partnership Wealth LLC raised its stake in MercadoLibre by 118.8% during the 3rd quarter. Impact Partnership Wealth LLC now owns 35 shares of the company’s stock worth $44,000 after acquiring an additional 19 shares in the last quarter. Cedar Brook Financial Partners LLC raised its stake in MercadoLibre by 33.1% during the 3rd quarter. Cedar Brook Financial Partners LLC now owns 225 shares of the company’s stock worth $285,000 after acquiring an additional 56 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in MercadoLibre by 19.9% in the third quarter. Exchange Traded Concepts LLC now owns 2,912 shares of the company’s stock valued at $3,692,000 after acquiring an additional 484 shares during the last quarter. Finally, Spectrum Asset Management Inc. NB CA acquired a new position in MercadoLibre in the third quarter valued at $293,000. Institutional investors and hedge funds 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.