MercadoLibre (NASDAQ:MELI) Given New $2,500.00 Price Target at Barclays

MercadoLibre (NASDAQ:MELI) had its target price lifted by Barclays from $2,200.00 to $2,500.00 in a research report released on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

MELI has been the topic of several other research reports. Cantor Fitzgerald decreased their price objective on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Morgan Stanley decreased their price target on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Citigroup dropped their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Wedbush decreased their target price on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Finally, BTIG Research lowered their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $2,364.06.

MercadoLibre Stock Up 7.1 %

Shares of MELI opened at $2,260.00 on Friday. MercadoLibre has a 1 year low of $1,324.99 and a 1 year high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The stock has a 50 day simple moving average of $1,867.29 and a two-hundred day simple moving average of $1,956.30. The firm has a market cap of $114.58 billion, a P/E ratio of 79.75, a P/E/G ratio of 1.10 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.21 by $2.40. The company had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $5.94 billion. MercadoLibre had a net margin of 7.57% and a return on equity of 40.71%. On average, analysts forecast that MercadoLibre will post 32.98 earnings per share for the current fiscal year.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the sale, the director now directly owns 238 shares in the company, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.06% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Mackenzie Financial Corp raised its position in MercadoLibre by 48.4% in the 4th quarter. Mackenzie Financial Corp now owns 497 shares of the company’s stock worth $845,000 after buying an additional 162 shares during the last quarter. ARQ Wealth Advisors LLC raised its holdings in shares of MercadoLibre by 16.0% during the fourth quarter. ARQ Wealth Advisors LLC now owns 174 shares of the company’s stock valued at $296,000 after purchasing an additional 24 shares during the last quarter. Toronto Dominion Bank lifted its position in MercadoLibre by 9.5% during the fourth quarter. Toronto Dominion Bank now owns 6,533 shares of the company’s stock valued at $11,109,000 after purchasing an additional 566 shares during the period. Blue Sky Capital Consultants Group Inc. bought a new stake in MercadoLibre in the 4th quarter worth approximately $2,500,000. Finally, Formidable Asset Management LLC raised its stake in MercadoLibre by 3.2% during the 4th quarter. Formidable Asset Management LLC now owns 160 shares of the company’s stock valued at $272,000 after buying an additional 5 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

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.