Barclays Cuts MercadoLibre (NASDAQ:MELI) Price Target to $2,200.00

MercadoLibre (NASDAQ:MELI) had its price objective cut by Barclays from $2,500.00 to $2,200.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also recently issued reports on MELI. Raymond James initiated coverage on MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price on the stock. Susquehanna lifted their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research note on Wednesday, August 28th. Bank of America boosted their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Redburn Atlantic started coverage on shares of MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price for the company. Finally, Wedbush restated an “outperform” rating and set a $2,200.00 price target (up previously from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $2,286.33.

MercadoLibre Trading Up 0.8 %

Shares of NASDAQ:MELI opened at $1,977.39 on Tuesday. 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 stock has a market capitalization of $100.25 billion, a price-to-earnings ratio of 69.77, a PEG ratio of 1.31 and a beta of 1.61. MercadoLibre has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. The company has a 50 day moving average price of $2,044.44 and a 200 day moving average price of $1,832.95.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after buying an additional 16 shares during the last quarter. Optimum Investment Advisors grew its position in MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after acquiring an additional 15 shares in the last quarter. Financial Connections Group Inc. acquired a new position in shares of MercadoLibre during the 2nd quarter worth $36,000. Quarry LP bought a new position in shares of MercadoLibre during the 2nd quarter valued at $43,000. Finally, Legacy Bridge LLC lifted its stake in shares of MercadoLibre by 53.3% in the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after purchasing an additional 8 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

About MercadoLibre

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.