MercadoLibre, Inc. (NASDAQ:MELI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have been given an average rating of “Moderate Buy” by the seventeen analysts that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $2,267.67.

A number of analysts have recently commented on the stock. The Goldman Sachs Group boosted their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Citigroup dropped their target price on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a report on Tuesday. Morgan Stanley dropped their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Cantor Fitzgerald dropped 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 research note on Thursday, November 7th. Finally, StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th.

Hedge Funds Weigh In On MercadoLibre

A number of hedge funds have recently bought and sold shares of the business. Jennison Associates LLC lifted its stake in shares of MercadoLibre by 3.9% in the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after purchasing an additional 70,154 shares during the period. FMR LLC lifted its stake in shares of MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after purchasing an additional 137,564 shares during the period. State Street Corp lifted its stake in shares of MercadoLibre by 3.1% in the 3rd quarter. State Street Corp now owns 404,584 shares of the company’s stock worth $830,190,000 after purchasing an additional 12,000 shares during the period. Janus Henderson Group PLC lifted its stake in shares of MercadoLibre by 55.8% in the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after purchasing an additional 132,028 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of MercadoLibre by 52.9% in the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after purchasing an additional 120,922 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,044.76 on Friday. MercadoLibre has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. The stock has a market cap of $103.67 billion, a PE ratio of 72.15, a price-to-earnings-growth ratio of 1.43 and a beta of 1.61. 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 company’s fifty day moving average price is $2,023.33 and its 200-day moving average price is $1,865.50.

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.