Brokerages Set MercadoLibre, Inc. (NASDAQ:MELI) Price Target at $2,269.67

MercadoLibre, Inc. (NASDAQ:MELI) has been given a consensus rating of “Moderate Buy” by the seventeen research firms that are presently covering the stock, Marketbeat Ratings 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 brokerages that have issued a report on the stock in the last year is $2,267.67.

MELI has been the subject of several recent research reports. Barclays cut their price target 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. Cantor Fitzgerald cut their target price on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Wedbush restated 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. Morgan Stanley cut their price objective on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Finally, 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 target price on the stock.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $2,110.00 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $106.97 billion, a price-to-earnings ratio of 74.45, a price-to-earnings-growth ratio of 1.37 and a beta of 1.61. MercadoLibre has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The company has a 50-day simple moving average of $2,025.78 and a two-hundred day simple moving average of $1,862.98.

Institutional Investors Weigh In On MercadoLibre

Hedge funds and other institutional investors have recently bought and sold shares of the company. Planning Capital Management Corp grew its holdings in shares of MercadoLibre by 9.1% during the third quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock worth $123,000 after purchasing an additional 5 shares during the last quarter. Mount Lucas Management LP boosted its position in MercadoLibre by 3.6% during the 3rd quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock worth $293,000 after buying an additional 5 shares during the period. Belpointe Asset Management LLC grew its holdings in MercadoLibre by 1.0% during the 2nd quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock worth $1,016,000 after acquiring an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in MercadoLibre by 0.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock valued at $2,419,000 after acquiring an additional 6 shares during the period. Finally, Evolutionary Tree Capital Management LLC raised its stake in shares of MercadoLibre by 0.3% during the second quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock valued at $3,403,000 after acquiring an additional 6 shares during the last quarter. 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.