HSBC upgraded shares of Mercadolibre (NASDAQ:MELI) from a hold rating to a buy rating in a research note released on Monday, BenzingaRatingsTable reports. HSBC currently has $800.00 price target on the stock, up from their previous price target of $575.00.

MELI has been the topic of several other reports. ValuEngine raised shares of Mercadolibre from a buy rating to a strong-buy rating in a report on Wednesday, September 4th. Barclays increased their price objective on shares of Mercadolibre from $615.00 to $730.00 and gave the company an overweight rating in a report on Tuesday, July 16th. Credit Suisse Group increased their price objective on shares of Mercadolibre from $640.00 to $710.00 and gave the company an outperform rating in a report on Wednesday, August 7th. They noted that the move was a valuation call. JPMorgan Chase & Co. raised shares of Mercadolibre from a neutral rating to an overweight rating and increased their price objective for the company from $563.00 to $750.00 in a report on Tuesday, August 13th. Finally, Stifel Nicolaus increased their price objective on shares of Mercadolibre from $560.00 to $650.00 and gave the company a hold rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Mercadolibre presently has a consensus rating of Buy and an average price target of $665.69.

MELI stock opened at $571.73 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.53 and a current ratio of 2.54. The firm has a market cap of $27.54 billion, a PE ratio of -697.23 and a beta of 1.71. Mercadolibre has a one year low of $257.52 and a one year high of $698.98. The firm’s fifty day moving average is $615.85 and its 200 day moving average is $564.68.

Mercadolibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.03. The business had revenue of $545.24 million for the quarter, compared to the consensus estimate of $507.68 million. Mercadolibre had a net margin of 0.87% and a return on equity of 1.24%. The company’s revenue was up 62.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.25) earnings per share. Research analysts predict that Mercadolibre will post 0.58 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of MELI. Harvest Group Wealth Management LLC purchased a new position in shares of Mercadolibre in the first quarter worth about $28,000. NEXT Financial Group Inc lifted its stake in shares of Mercadolibre by 104.3% in the second quarter. NEXT Financial Group Inc now owns 47 shares of the company’s stock worth $29,000 after buying an additional 24 shares in the last quarter. Icon Wealth Partners LLC purchased a new position in shares of Mercadolibre in the first quarter worth about $32,000. CENTRAL TRUST Co lifted its stake in shares of Mercadolibre by 62.5% in the second quarter. CENTRAL TRUST Co now owns 52 shares of the company’s stock worth $33,000 after buying an additional 20 shares in the last quarter. Finally, Advisory Alpha LLC purchased a new position in shares of Mercadolibre in the first quarter worth about $37,000. 83.69% of the stock is currently owned by hedge funds and other institutional investors.

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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