Analysts Set MercadoLibre, Inc. (NASDAQ:MELI) PT at $2,247.67

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have been given a consensus recommendation of “Moderate Buy” by the seventeen brokerages that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $2,247.67.

MELI has been the topic of a number of recent analyst reports. Wedbush cut their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Barclays dropped their target price 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. Citigroup reduced their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Redburn Atlantic began coverage on shares of MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective for the company. Finally, Cantor Fitzgerald decreased 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.

MercadoLibre Stock Performance

MercadoLibre stock opened at $1,838.15 on Monday. 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 firm has a market cap of $93.19 billion, a P/E ratio of 64.86, a P/E/G ratio of 1.24 and a beta of 1.60. MercadoLibre has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. The firm has a 50-day moving average of $1,858.62 and a 200-day moving average of $1,902.43.

Insider Buying and Selling at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now owns 238 shares of the company’s stock, valued at $472,425.24. This represents a 17.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Private Advisor Group LLC lifted its position in MercadoLibre by 75.5% during the second quarter. Private Advisor Group LLC now owns 972 shares of the company’s stock valued at $1,597,000 after purchasing an additional 418 shares in the last quarter. Acadian Asset Management LLC bought a new stake in MercadoLibre during the 2nd quarter worth approximately $1,023,000. LPL Financial LLC boosted its position in shares of MercadoLibre by 10.7% in the second quarter. LPL Financial LLC now owns 33,800 shares of the company’s stock worth $55,547,000 after purchasing an additional 3,259 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of MercadoLibre by 2.6% in the second quarter. Oppenheimer & Co. Inc. now owns 1,222 shares of the company’s stock worth $2,008,000 after purchasing an additional 31 shares in the last quarter. Finally, GHP Investment Advisors Inc. raised its position in shares of MercadoLibre by 41.7% during the 2nd quarter. GHP Investment Advisors Inc. now owns 34 shares of the company’s stock valued at $56,000 after purchasing an additional 10 shares during the period. 87.62% of the stock is currently owned by institutional investors.

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.