MercadoLibre, Inc. (NASDAQ:MELI) Receives $2,301.67 Consensus Price Target from Analysts

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have received a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $2,301.67.

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Morgan Stanley lifted their price objective on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. The Goldman Sachs Group increased their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. Finally, Barclays upped their price target on MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd.

Institutional Investors Weigh In On MercadoLibre

Hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James & Associates grew its stake in shares of MercadoLibre by 4.8% during the 2nd quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock worth $57,256,000 after acquiring an additional 1,604 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in MercadoLibre by 20.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock valued at $41,794,000 after purchasing an additional 4,658 shares in the last quarter. Caprock Group LLC grew its position in MercadoLibre by 143.7% in the second quarter. Caprock Group LLC now owns 580 shares of the company’s stock valued at $955,000 after purchasing an additional 342 shares in the last quarter. Sarasin & Partners LLP increased its stake in MercadoLibre by 168.5% in the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after buying an additional 28,494 shares during the last quarter. Finally, Privium Fund Management UK Ltd bought a new stake in MercadoLibre during the 2nd quarter worth about $875,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Up 1.3 %

Shares of NASDAQ MELI opened at $2,090.01 on Wednesday. MercadoLibre has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. The firm’s 50-day moving average is $2,052.64 and its 200-day moving average is $1,817.26. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $105.96 billion, a PE ratio of 75.53, a price-to-earnings-growth ratio of 1.25 and a beta of 1.61.

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.