Mercadolibre (NASDAQ:MELI) received a $713.00 price target from equities research analysts at Goldman Sachs Group in a research note issued on Tuesday, TipRanks reports. The brokerage currently has a “buy” rating on the stock. Goldman Sachs Group’s target price would indicate a potential upside of 27.12% from the company’s current price.

Several other equities research analysts also recently commented on MELI. Piper Jaffray Companies upped their target price on shares of Mercadolibre from $584.00 to $675.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Cowen set a $651.00 price target on shares of Mercadolibre and gave the stock a “hold” rating in a research report on Monday, August 12th. BTIG Research raised shares of Mercadolibre from a “neutral” rating to a “buy” rating and set a $720.00 price target for the company in a report on Monday. Stifel Nicolaus upped their price objective on shares of Mercadolibre from $560.00 to $650.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. Finally, HSBC upgraded shares of Mercadolibre from a “hold” rating to a “buy” rating and upped their price objective for the company from $575.00 to $800.00 in a research report on Monday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $665.69.

Shares of Mercadolibre stock traded up $11.71 during trading on Tuesday, hitting $560.88. 647,190 shares of the company were exchanged, compared to its average volume of 594,368. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.54 and a quick ratio of 2.53. The firm has a market capitalization of $27.54 billion, a P/E ratio of -684.00 and a beta of 1.71. The firm’s fifty day moving average price is $615.85 and its 200 day moving average price is $564.68. Mercadolibre has a 1-year low of $257.52 and a 1-year high of $698.98.

Mercadolibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03. Mercadolibre had a net margin of 0.87% and a return on equity of 1.24%. The business had revenue of $545.24 million for the quarter, compared to the consensus estimate of $507.68 million. During the same period last year, the company posted ($0.25) EPS. Mercadolibre’s revenue for the quarter was up 62.6% on a year-over-year basis. As a group, equities research analysts anticipate that Mercadolibre will post 0.58 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the company. NEXT Financial Group Inc lifted its position in Mercadolibre by 104.3% in the 2nd quarter. NEXT Financial Group Inc now owns 47 shares of the company’s stock valued at $29,000 after acquiring an additional 24 shares in the last quarter. Icon Wealth Partners LLC bought a new position in shares of Mercadolibre during the first quarter worth about $32,000. CENTRAL TRUST Co raised its position in Mercadolibre by 62.5% in the 2nd quarter. CENTRAL TRUST Co now owns 52 shares of the company’s stock valued at $33,000 after buying an additional 20 shares during the last quarter. Advisory Alpha LLC acquired a new stake in Mercadolibre in the 1st quarter valued at approximately $37,000. Finally, Emerald Investment Partners LLC bought a new stake in Mercadolibre in the 2nd quarter valued at approximately $37,000. Institutional investors own 83.69% 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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Analyst Recommendations for Mercadolibre (NASDAQ:MELI)

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