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

Deutsche Bank reiterated their buy rating on shares of Mercadolibre (NASDAQ:MELI) in a report published on Wednesday, The Fly reports. The brokerage currently has a $670.00 price target on the stock, up from their previous price target of $653.00.

Other research analysts have also issued research reports about the stock. HSBC raised shares of Mercadolibre from a hold rating to a buy rating and lifted their price objective for the stock from $575.00 to $800.00 in a research note on Monday, September 9th. Barclays cut their target price on shares of Mercadolibre from $700.00 to $660.00 and set an overweight rating on the stock in a report on Friday, November 1st. BidaskClub raised shares of Mercadolibre from a hold rating to a buy rating in a research report on Monday, November 25th. ValuEngine lowered shares of Mercadolibre from a buy rating to a hold rating in a report on Tuesday. Finally, Goldman Sachs Group set a $713.00 price target on shares of Mercadolibre and gave the company a buy rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Mercadolibre has a consensus rating of Buy and a consensus target price of $654.13.

Shares of Mercadolibre stock traded up $3.28 during trading on Wednesday, reaching $578.52. 249,731 shares of the company were exchanged, compared to its average volume of 565,302. 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 twelve month low of $257.52 and a twelve month high of $698.98. The business has a 50-day moving average price of $540.94 and a 200-day moving average price of $584.91. The firm has a market capitalization of $28.86 billion, a price-to-earnings ratio of -705.51 and a beta of 1.63.

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

Several institutional investors have recently modified their holdings of MELI. Bartlett & Co. LLC bought a new position in shares of Mercadolibre during the third quarter worth about $26,000. Reilly Financial Advisors LLC lifted 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 acquiring an additional 20 shares in the last quarter. Lindbrook Capital LLC acquired a new position in Mercadolibre during the 3rd quarter worth approximately $28,000. NEXT Financial Group Inc boosted its position in Mercadolibre by 104.3% during the 2nd quarter. NEXT Financial Group Inc now owns 47 shares of the company’s stock worth $29,000 after acquiring an additional 24 shares during the last quarter. Finally, Emerald Investment Partners LLC acquired a new position in Mercadolibre during the 2nd quarter worth approximately $37,000. Institutional investors own 81.16% of the company’s stock.

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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