MercadoLibre, Inc. (NASDAQ:MELI) Receives $2,247.67 Average PT from Brokerages

MercadoLibre, Inc. (NASDAQ:MELI) has received an average recommendation of “Moderate Buy” from the seventeen ratings firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $2,247.67.

A number of equities analysts recently weighed in on MELI shares. 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 price target on the stock. Raymond James began coverage on shares of MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price on the stock. Cantor Fitzgerald lowered their price target on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Morgan Stanley reduced their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Finally, Wedbush lowered their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th.

Insiders Place Their Bets

In related news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 238 shares in the company, valued at $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MELI. Optimum Investment Advisors lifted its position in MercadoLibre by 750.0% during the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares during the last quarter. Grove Bank & Trust lifted its holdings in shares of MercadoLibre by 120.0% during the 4th quarter. Grove Bank & Trust now owns 22 shares of the company’s stock worth $37,000 after acquiring an additional 12 shares during the last quarter. Legacy Bridge LLC increased its stake in MercadoLibre by 53.3% in the third quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after acquiring an additional 8 shares during the last quarter. Quarry LP purchased a new stake in MercadoLibre during the second quarter valued at about $43,000. Finally, NBC Securities Inc. lifted its stake in MercadoLibre by 35.0% during the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after purchasing an additional 7 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $1,836.00 on Monday. The firm has a market capitalization of $93.08 billion, a P/E ratio of 64.78, a price-to-earnings-growth ratio of 0.92 and a beta of 1.60. 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 business’s fifty day simple moving average is $1,853.58 and its 200 day simple moving average is $1,905.33. MercadoLibre has a 12 month low of $1,324.99 and a 12 month high of $2,161.73.

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.