MercadoLibre (NASDAQ:MELI) Price Target Raised to $2,500.00

MercadoLibre (NASDAQ:MELI) had its target price increased by stock analysts at Barclays from $2,200.00 to $2,500.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 18.46% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Citigroup decreased their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Bank of America lifted their target price on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Friday. Morgan Stanley reduced their target price 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. Finally, JPMorgan Chase & Co. reduced their target price on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $2,294.69.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,110.47 on Friday. The firm has a 50-day moving average of $1,858.57 and a 200-day moving average of $1,952.94. The company has a market cap of $107.00 billion, a P/E ratio of 74.47, a P/E/G ratio of 1.10 and a beta of 1.62. 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.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a net margin of 7.57% and a return on equity of 40.71%. Equities research analysts forecast that MercadoLibre will post 32.98 EPS for the current fiscal year.

Insider Buying and Selling at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the sale, the director now directly owns 238 shares in the company, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MercadoLibre

Hedge funds have recently made changes to their positions in the business. Human Investing LLC bought a new stake in shares of MercadoLibre in the 4th quarter worth approximately $26,000. Pacific Capital Wealth Advisors Inc. increased its stake in shares of 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 buying an additional 11 shares during the period. Brown Lisle Cummings Inc. increased its stake in shares of MercadoLibre by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after buying an additional 8 shares during the period. Covestor Ltd purchased a new position in shares of MercadoLibre in the fourth quarter worth $27,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of MercadoLibre in the fourth quarter worth $32,000. 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.