MercadoLibre, Inc. (NASDAQ:MELI) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have received an average recommendation of “Moderate Buy” from the seventeen analysts that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $2,247.67.

Several research firms recently issued reports on MELI. Redburn Atlantic started coverage on MercadoLibre in a research report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price on the stock. BTIG Research cut their price objective 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. Citigroup reduced their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. JPMorgan Chase & Co. dropped their target price on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, Barclays reduced their price target on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th.

MercadoLibre Trading Up 1.1 %

Shares of MercadoLibre stock opened at $1,758.77 on Monday. The firm’s 50 day simple moving average is $1,871.83 and its two-hundred day simple moving average is $1,901.10. The firm has a market capitalization of $89.16 billion, a price-to-earnings ratio of 62.06, a PEG ratio of 1.24 and a beta of 1.60. MercadoLibre has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

Insiders Place Their Bets

In other news, Director Emiliano Calemzuk sold 50 shares of the 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 transaction of $99,249.00. Following the transaction, the director now owns 238 shares in the company, valued at $472,425.24. This trade represents a 17.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On MercadoLibre

A number of large investors have recently added to or reduced their stakes in the stock. Sugarloaf Wealth Management LLC grew its position in shares of MercadoLibre by 1,900.0% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 60 shares of the company’s stock valued at $102,000 after purchasing an additional 57 shares during the period. Hilltop National Bank lifted its stake in MercadoLibre by 82.1% in the 4th quarter. Hilltop National Bank now owns 102 shares of the company’s stock valued at $173,000 after buying an additional 46 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in MercadoLibre by 0.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,223 shares of the company’s stock worth $7,181,000 after buying an additional 36 shares during the last quarter. Range Financial Group LLC purchased a new stake in MercadoLibre during the 4th quarter worth approximately $296,000. Finally, CWA Asset Management Group LLC acquired a new position in shares of MercadoLibre during the fourth quarter valued at approximately $4,623,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

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.