Analysts Set MercadoLibre, Inc. (NASDAQ:MELI) Price Target at $2,244.69

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have received a consensus recommendation of “Buy” from the seventeen research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $2,244.69.

A number of analysts have recently commented on the company. Cantor Fitzgerald cut their target price on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Morgan Stanley dropped 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 report on Monday, November 11th. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and upped their price target for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Wedbush decreased their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Finally, Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a research note on Tuesday, January 21st.

Insider Transactions at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction dated 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 transaction, the director now 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 legal filing with the SEC, which is available at this link. Corporate insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On MercadoLibre

Several institutional investors have recently modified their holdings of the company. Human Investing LLC acquired a new position in MercadoLibre during the 4th quarter valued at about $26,000. Pacific Capital Wealth Advisors Inc. raised its position in MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 11 shares during the period. Brown Lisle Cummings Inc. lifted its position in MercadoLibre by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after buying an additional 8 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in MercadoLibre in the 4th quarter worth about $32,000. Finally, Mather Group LLC. grew its position in MercadoLibre by 171.4% in the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock worth $32,000 after acquiring an additional 12 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 0.8 %

MercadoLibre stock opened at $1,996.65 on Friday. The stock has a market cap of $101.22 billion, a PE ratio of 70.45, a P/E/G ratio of 1.06 and a beta of 1.62. MercadoLibre has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The stock’s fifty day moving average is $1,831.14 and its two-hundred day moving average is $1,928.50.

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.