MercadoLibre receives “Moderate Buy” consensus from analysts

MercadoLibre, Inc. (NASDAQ: MELI) has received a consensus recommendation of “Moderate Buy” from seventeen research firms. Of these, eleven analysts have assigned a buy recommendation, while six have issued a hold rating. The average 12-month price target among covering brokerages is $2,255.

Recent analyst activity includes Goldman Sachs setting a $2,100 price target, Cantor Fitzgerald raising its target to $2,300 with an “overweight” rating, and Citigroup increasing its price objective to $2,000. In terms of institutional activity, Sapient Capital LLC reduced its holdings in the company by 85.7% during the second quarter, leaving it with 1,320 shares valued at approximately $2.24 million.

Other institutional movements include new positions from Bison Wealth LLC and Sivia Capital Partners LLC, as well as increased stakes from Empowered Funds LLC, Focus Partners Wealth, and Gamco Investors INC. ET AL. The company reported quarterly earnings per share of $9.19 on August 5th, exceeding the consensus estimate of $8.65.