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

MercadoLibre, Inc. (NASDAQ:MELI) has been assigned an average rating of “Moderate Buy” from the nineteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $2,886.25.

MELI has been the subject of several recent analyst reports. BTIG Research reaffirmed a “buy” rating and set a $2,750.00 price objective on shares of MercadoLibre in a research note on Wednesday, February 4th. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Friday, February 6th. Morgan Stanley boosted their price target on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. JPMorgan Chase & Co. upgraded MercadoLibre from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $2,650.00 to $2,800.00 in a research report on Thursday, February 12th. Finally, Barclays lifted their price objective on MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th.

MercadoLibre Stock Performance

Shares of MELI opened at $1,988.26 on Tuesday. MercadoLibre has a 52-week low of $1,723.90 and a 52-week high of $2,645.22. The stock’s 50-day simple moving average is $2,064.20 and its 200 day simple moving average is $2,188.78. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.17. The stock has a market capitalization of $100.80 billion, a price-to-earnings ratio of 48.52, a price-to-earnings-growth ratio of 0.99 and a beta of 1.44.

Insider Activity

In other MercadoLibre news, Director Stelleo Tolda sold 246 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total value of $503,778.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Emiliano Calemzuk sold 45 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the completion of the transaction, the director directly owned 257 shares in the company, valued at $521,034.09. The trade was a 14.90% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,136 shares of company stock worth $2,308,788. 0.25% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Highview Capital Management LLC DE bought a new stake in MercadoLibre during the 2nd quarter valued at about $559,000. Resona Asset Management Co. Ltd. lifted its stake in shares of MercadoLibre by 4.0% in the second quarter. Resona Asset Management Co. Ltd. now owns 15,308 shares of the company’s stock worth $39,900,000 after buying an additional 585 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of MercadoLibre by 7.0% during the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after buying an additional 81,124 shares during the last quarter. Achmea Investment Management B.V. increased its position in shares of MercadoLibre by 10.9% during the second quarter. Achmea Investment Management B.V. now owns 5,326 shares of the company’s stock valued at $13,921,000 after acquiring an additional 525 shares in the last quarter. Finally, Barlow Wealth Partners Inc. raised its holdings in MercadoLibre by 126.7% in the 3rd quarter. Barlow Wealth Partners Inc. now owns 11,505 shares of the company’s stock worth $26,886,000 after acquiring an additional 6,429 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.