MercadoLibre (NASDAQ:MELI) Raised to “Strong-Buy” at Raymond James

Raymond James upgraded shares of MercadoLibre (NASDAQ:MELI) from an outperform rating to a strong-buy rating in a research note released on Tuesday, Marketbeat reports. The brokerage currently has $2,250.00 price objective on the stock.

A number of other equities analysts also recently commented on the company. Wedbush dropped their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Morgan Stanley reduced 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 note on Monday, November 11th. JPMorgan Chase & Co. lowered their target price on shares of 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. Citigroup decreased their price target 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. Finally, Cantor Fitzgerald cut their price objective on 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, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,241.00.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $1,828.73 on Tuesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre has a one year low of $1,324.99 and a one year high of $2,161.73. The business’s 50-day moving average price is $1,845.97 and its two-hundred day moving average price is $1,909.86. The company has a market capitalization of $92.72 billion, a P/E ratio of 64.53, a price-to-earnings-growth ratio of 0.97 and a beta of 1.60.

Insider Buying and Selling

In related news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the transaction, the director now directly owns 238 shares of the company’s stock, valued at $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On MercadoLibre

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pacific Capital Wealth Advisors Inc. raised its position in MercadoLibre by 220.0% in the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after purchasing an additional 11 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in shares of MercadoLibre in the 4th quarter worth approximately $32,000. Optimum Investment Advisors boosted its stake in MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after buying an additional 15 shares in the last quarter. Grove Bank & Trust grew its position in MercadoLibre by 120.0% in the fourth quarter. Grove Bank & Trust now owns 22 shares of the company’s stock valued at $37,000 after acquiring an additional 12 shares during the period. Finally, Quarry LP acquired a new position in MercadoLibre during the second quarter worth $43,000. 87.62% of the stock is owned by institutional investors.

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.