New Street Research upgraded shares of MercadoLibre (NASDAQ:MELI - Free Report) from a neutral rating to a buy rating in a research report sent to investors on Thursday, MarketBeat reports. The brokerage currently has $2,300.00 price target on the stock, up from their prior price target of $2,000.00.
A number of other equities research analysts have also issued reports on the company. Wedbush cut their price target on MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating for the company in a research note on Monday, January 6th. Redburn Atlantic initiated coverage on MercadoLibre in a research note on Friday, October 11th. They set a "buy" rating and a $2,800.00 target price on the stock. JPMorgan Chase & Co. dropped their price target on MercadoLibre from $2,150.00 to $1,950.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. BTIG Research lowered their target price on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Finally, Cantor Fitzgerald dropped their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an "overweight" rating for the company in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $2,244.69.
View Our Latest Research Report on MELI
MercadoLibre Price Performance
Shares of MELI traded down $25.13 during mid-day trading on Thursday, reaching $1,922.19. The stock had a trading volume of 280,656 shares, compared to its average volume of 293,906. The business has a fifty day moving average of $1,839.63 and a 200 day moving average of $1,917.75. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The firm has a market cap of $97.46 billion, a price-to-earnings ratio of 67.83, a PEG ratio of 1.00 and a beta of 1.60. MercadoLibre has a 12 month low of $1,324.99 and a 12 month high of $2,161.73.
Insider Buying and Selling
In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the firm's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the sale, the director now owns 238 shares of the company's stock, valued at $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On MercadoLibre
A number of institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio bought a new position in MercadoLibre in the 3rd quarter worth about $114,417,000. Principal Financial Group Inc. raised its holdings in shares of MercadoLibre by 20.9% in the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company's stock valued at $121,948,000 after acquiring an additional 10,272 shares in the last quarter. KBC Group NV increased its position in MercadoLibre by 205.5% during the 3rd quarter. KBC Group NV now owns 26,279 shares of the company's stock valued at $53,923,000 after purchasing an additional 17,677 shares during the period. Nordea Investment Management AB raised its holdings in shares of MercadoLibre by 37.8% in the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company's stock valued at $271,897,000 after purchasing an additional 43,215 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its position in shares of MercadoLibre by 40.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company's stock worth $5,598,000 after purchasing an additional 780 shares during the period. 87.62% of the stock is owned by institutional investors.
MercadoLibre Company Profile
(
Get Free Report)
MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, 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, as well as allows users to transfer money through their websites or on the apps.
See Also
Before you consider MercadoLibre, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MercadoLibre wasn't on the list.
While MercadoLibre currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
