Brokerages Set MercadoLibre, Inc. (NASDAQ:MELI) Target Price at $2,267.67

MercadoLibre, Inc. (NASDAQ:MELI) has been assigned an average recommendation of “Moderate Buy” from the seventeen brokerages that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $2,267.67.

Several equities research analysts have commented on the stock. Barclays dropped their price target on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Raymond James began coverage on shares of MercadoLibre in a research note on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price for the company. Bank of America lifted their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Citigroup cut their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Finally, Morgan Stanley reduced their target price 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.

Insiders Place Their Bets

In related news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the sale, the director now owns 238 shares of the company’s stock, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On MercadoLibre

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its holdings in shares of MercadoLibre by 205,108.3% during the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after purchasing an additional 248,181 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in MercadoLibre during the second quarter valued at about $2,913,000. FMR LLC lifted its position in shares of MercadoLibre by 18.6% in the third quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after buying an additional 137,564 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of MercadoLibre by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after acquiring an additional 120,922 shares in the last quarter. Finally, Swedbank AB increased its holdings in shares of MercadoLibre by 352.8% during the 3rd quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after acquiring an additional 73,336 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 3.3 %

MercadoLibre stock opened at $1,720.36 on Thursday. MercadoLibre has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The stock has a market cap of $87.22 billion, a price-to-earnings ratio of 60.70, a PEG ratio of 1.29 and a beta of 1.57. The company’s 50-day moving average price is $1,963.98 and its two-hundred day moving average price is $1,883.33. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

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.