MercadoLibre (NASDAQ:MELI) Given New $2,450.00 Price Target at Citigroup

MercadoLibre (NASDAQ:MELI) had its price target lowered by Citigroup from $2,480.00 to $2,450.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on the company. Wedbush reaffirmed an “outperform” rating and issued a $2,200.00 price target (up previously from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. Bank of America upped their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. BTIG Research lowered their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Barclays reduced their price objective on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Finally, The Goldman Sachs Group raised their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,267.67.

MercadoLibre Stock Down 3.1 %

MELI stock opened at $2,044.76 on Tuesday. The firm has a market cap of $103.67 billion, a PE ratio of 72.15, a PEG ratio of 1.43 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 fifty day simple moving average of $2,023.33 and a 200 day simple moving average of $1,865.50. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

Institutional Trading of MercadoLibre

Hedge funds have recently modified their holdings of the company. Raymond James & Associates raised its stake in shares of MercadoLibre by 4.8% in the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock valued at $57,256,000 after purchasing an additional 1,604 shares in the last quarter. KBC Group NV raised its stake in shares of MercadoLibre by 205.5% in the 3rd quarter. KBC Group NV now owns 26,279 shares of the company’s stock valued at $53,923,000 after buying an additional 17,677 shares in the last quarter. Caprock Group LLC lifted its holdings in shares of MercadoLibre by 143.7% during the 2nd quarter. Caprock Group LLC now owns 580 shares of the company’s stock worth $955,000 after acquiring an additional 342 shares during the period. Sarasin & Partners LLP boosted its position in shares of MercadoLibre by 168.5% during the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after acquiring an additional 28,494 shares in the last quarter. Finally, Parnassus Investments LLC increased its stake in MercadoLibre by 3.0% in the third quarter. Parnassus Investments LLC now owns 14,903 shares of the company’s stock valued at $30,580,000 after acquiring an additional 436 shares during the period. Institutional investors own 87.62% of the company’s stock.

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.