MercadoLibre, Inc. (NASDAQ:MELI) Receives Consensus Rating of “Moderate Buy” from Brokerages

MercadoLibre, Inc. (NASDAQ:MELI) has earned an average rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $2,267.67.

MELI has been the topic of several recent analyst reports. Bank of America lifted their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Susquehanna increased their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research note on Wednesday, August 28th. Redburn Atlantic assumed coverage on MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective on the stock. Cantor Fitzgerald decreased their target price on 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. Finally, JPMorgan Chase & Co. decreased their price objective on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th.

MercadoLibre Stock Performance

MercadoLibre stock opened at $1,716.38 on Thursday. MercadoLibre has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. The firm has a market cap of $87.02 billion, a P/E ratio of 60.56, a P/E/G ratio of 1.29 and a beta of 1.57. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The firm has a 50-day moving average of $1,978.88 and a 200-day moving average of $1,882.90.

Insider Buying and Selling

In other news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the sale, the director now directly owns 238 shares of the company’s stock, valued at $472,425.24. This represents a 17.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MercadoLibre

Hedge funds have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. raised its stake in shares of MercadoLibre by 2.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 7,438 shares of the company’s stock valued at $12,224,000 after acquiring an additional 194 shares during the period. Focus Financial Network Inc. grew its position in MercadoLibre by 44.6% in the 2nd quarter. Focus Financial Network Inc. now owns 256 shares of the company’s stock valued at $428,000 after acquiring an additional 79 shares during the last quarter. Fifth Third Bancorp increased its stake in MercadoLibre by 1.0% in the second quarter. Fifth Third Bancorp now owns 1,760 shares of the company’s stock worth $2,892,000 after purchasing an additional 17 shares during the period. &PARTNERS bought a new stake in shares of MercadoLibre during the second quarter worth $281,000. Finally, Avitas Wealth Management LLC grew its holdings in shares of MercadoLibre by 17.7% in the second quarter. Avitas Wealth Management LLC now owns 1,139 shares of the company’s stock worth $1,872,000 after purchasing an additional 171 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Company Profile

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.