MercadoLibre (NASDAQ:MELI) Given New $2,100.00 Price Target at Wedbush

MercadoLibre (NASDAQ:MELI) had its price target cut by Wedbush from $2,200.00 to $2,100.00 in a research report report published on Monday,Benzinga reports. They currently have an outperform rating on the stock.

MELI has been the subject of several other reports. Morgan Stanley lowered their price target on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Redburn Atlantic began coverage on MercadoLibre in a report on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price for the company. Bank of America lifted their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Barclays dropped their price objective on 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, Cantor Fitzgerald decreased their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2,261.00.

MercadoLibre Trading Down 1.9 %

MELI stock opened at $1,799.42 on Monday. The company has a market capitalization of $91.23 billion, a PE ratio of 63.49, a price-to-earnings-growth ratio of 1.24 and a beta of 1.60. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre has a one year low of $1,324.99 and a one year high of $2,161.73. The company’s 50 day moving average price is $1,894.45 and its two-hundred day moving average price is $1,897.55.

Insiders Place Their Bets

In other news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the sale, the director now owns 238 shares in the company, 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 is accessible through the SEC website. 0.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MercadoLibre

Hedge funds have recently bought and sold shares of the business. Optimum Investment Advisors boosted its position in shares of MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after purchasing an additional 15 shares in the last quarter. Quarry LP purchased a new position in MercadoLibre during the second quarter valued at $43,000. Legacy Bridge LLC boosted its holdings in MercadoLibre by 53.3% in the third quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock worth $47,000 after acquiring an additional 8 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of MercadoLibre by 123.1% in the fourth quarter. GAMMA Investing LLC now owns 29 shares of the company’s stock worth $49,000 after acquiring an additional 16 shares during the last quarter. Finally, NBC Securities Inc. increased its holdings in shares of MercadoLibre by 35.0% during the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after acquiring an additional 7 shares in the last quarter. 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.