MercadoLibre (NASDAQ:MELI) Price Target Lowered to $2,600.00 at Wedbush

MercadoLibre (NASDAQ:MELI) had its target price trimmed by Wedbush from $2,700.00 to $2,600.00 in a report issued on Tuesday, Marketbeat reports. The brokerage currently has an outperform rating on the stock.

MELI has been the subject of a number of other research reports. UBS Group lowered their price target on MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating for the company in a research report on Monday, November 24th. BTIG Research reiterated a “buy” rating and set a $2,750.00 target price on shares of MercadoLibre in a report on Wednesday, February 4th. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. JPMorgan Chase & Co. raised shares of MercadoLibre from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $2,650.00 to $2,800.00 in a research report on Thursday, February 12th. Finally, Weiss Ratings lowered shares of MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and a consensus price target of $2,880.00.

MercadoLibre Stock Down 0.6%

Shares of MELI opened at $1,975.51 on Tuesday. MercadoLibre has a fifty-two week low of $1,723.90 and a fifty-two week high of $2,645.22. The company’s fifty day moving average is $2,062.22 and its two-hundred day moving average is $2,185.96. The firm has a market cap of $100.16 billion, a PE ratio of 48.21, a price-to-earnings-growth ratio of 0.99 and a beta of 1.44. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.55.

Insider Transactions at MercadoLibre

In other news, Director Emiliano Calemzuk sold 45 shares of the firm’s stock in a transaction dated 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 sale, the director directly owned 257 shares in the company, valued at $521,034.09. This trade represents a 14.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total value of $1,713,778.30. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,136 shares of company stock valued at $2,308,788. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On MercadoLibre

A number of hedge funds have recently bought and sold shares of MELI. Baillie Gifford & Co. boosted its position in MercadoLibre by 4.9% during the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock valued at $7,012,773,000 after purchasing an additional 164,120 shares during the period. Capital Research Global Investors lifted its stake in MercadoLibre by 22.5% in the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock valued at $4,481,812,000 after buying an additional 408,939 shares during the last quarter. Capital World Investors boosted its holdings in shares of MercadoLibre by 1.3% during the third quarter. Capital World Investors now owns 1,740,129 shares of the company’s stock valued at $4,067,194,000 after acquiring an additional 22,659 shares during the period. Capital International Investors boosted its holdings in shares of MercadoLibre by 7.3% during the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock valued at $3,474,880,000 after acquiring an additional 118,018 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of MercadoLibre by 9.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock worth $3,188,718,000 after acquiring an additional 137,100 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Company Profile

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.