BTIG Research Reaffirms “Buy” Rating for MercadoLibre (NASDAQ:MELI)

MercadoLibre (NASDAQ:MELI)‘s stock had its “buy” rating reiterated by investment analysts at BTIG Research in a report issued on Wednesday,Benzinga reports. They presently have a $2,750.00 target price on the stock. BTIG Research’s target price indicates a potential upside of 35.15% from the company’s previous close.

A number of other analysts have also issued reports on MELI. Citigroup lowered their target price on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a report on Thursday, October 9th. Wedbush lowered their price objective on shares of MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating on the stock in a research note on Friday, December 19th. Weiss Ratings lowered shares of MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 8th. Cantor Fitzgerald reduced their price target on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Finally, Morgan Stanley raised their price target on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average target price of $2,876.88.

MercadoLibre Stock Down 0.9%

MELI stock opened at $2,034.76 on Wednesday. The stock has a market capitalization of $103.16 billion, a price-to-earnings ratio of 49.65, a price-to-earnings-growth ratio of 1.02 and a beta of 1.44. The company has a 50-day moving average of $2,077.08 and a two-hundred day moving average of $2,209.58. MercadoLibre has a 52-week low of $1,723.90 and a 52-week high of $2,645.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 1.15.

Insider Activity

In other MercadoLibre news, Director Stelleo Tolda sold 246 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total transaction of $503,778.48. The sale 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 company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total value of $91,231.65. Following the completion of the sale, the director owned 257 shares in the company, valued at approximately $521,034.09. This represents a 14.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,136 shares of company stock worth $2,308,788. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On MercadoLibre

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Laurel Wealth Advisors LLC bought a new position in shares of MercadoLibre during the fourth quarter valued at $26,000. Darwin Wealth Management LLC acquired a new stake in shares of MercadoLibre during the 2nd quarter worth about $29,000. Holos Integrated Wealth LLC bought a new position in MercadoLibre during the 4th quarter valued at about $32,000. Steigerwald Gordon & Koch Inc. bought a new position in MercadoLibre during the 3rd quarter valued at about $35,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of MercadoLibre in the third quarter valued at approximately $35,000. Institutional investors own 87.62% of the company’s stock.

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.