ThinkEquity Analysts Upgrade MercadoLibre, Inc. (MELI) Shares to "Buy"
Thursday, June 30, 2021 9:09 AM

Equities research analysts at ThinkEquity upgraded shares of MercadoLibre, Inc. (NASDAQ: MELI) from a "hold" rating to a "buy" rating in a research note to investors on Thursday. The analysts currently have a $90.00 price target on the stock.

Separately, analysts at RBC Capital (NYSE: RY) raised their price target on shares of MercadoLibre, Inc. from $78.00 to $95.00 in a research note to investors on Thursday, May 5th. They now have an "outperform" rating on the stock. Also, analysts at Zacks Investment Research reiterated a "neutral" rating on shares of MercadoLibre, Inc. in a research note to investors on Thursday, March 31st.

Shares of MercadoLibre, Inc. opened at 75.11 on Friday. MercadoLibre, Inc. has a 52 week low of $49.55 and a 52 week high of $92.73. The stock's 50-day moving average is $82. and its 200-day moving average is $76.7. The company has a market cap of $3.315 billion and a price-to-earnings ratio of 54.86.

MercadoLibre, Inc. last announced its quarterly results on Thursday, May 5th. The company reported $0.32 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.31 EPS by $0.01. During the same quarter in the prior year, the company posted $0.22 earnings per share. The company’s quarterly revenue was up 33.90% on a year-over-year basis. On average, analysts predict that MercadoLibre, Inc. will post $0.45 EPS next quarter.

MercadoLibre, Inc. hosts an online commerce platform in Latin America, called MercadoLibre and located at . The Company has operations in Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, Uruguay and Venezuela. Additionally, it also operates online commerce platforms in Costa Rica, the Dominican Republic and Panama. It offers a technological and commercial solution that addresses the cultural and geographic challenges of operating an online commerce platform in Latin America. The Company offers its users two principal services: the MercadoLibre marketplace and the MercadoPago online payments solution.

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