Morgan Stanley Lowers MercadoLibre (NASDAQ:MELI) Price Target to $2,450.00

MercadoLibre (NASDAQ:MELI) had its price objective dropped by research analysts at Morgan Stanley from $2,500.00 to $2,450.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 23.90% from the company’s current price.

Several other equities analysts have also weighed in on MELI. Cantor Fitzgerald cut their price target on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Citigroup upped their target price on MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Susquehanna lifted their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. Bank of America upped their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Finally, Redburn Atlantic started coverage on shares of MercadoLibre in a research report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price on the stock. Three 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’s stock. Based on data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $2,286.33.

MercadoLibre Stock Up 0.8 %

MELI stock opened at $1,977.39 on Monday. The firm’s fifty day moving average is $2,044.44 and its 200 day moving average is $1,832.95. The firm has a market cap of $100.25 billion, a PE ratio of 69.40, a P/E/G ratio of 1.15 and a beta of 1.61. MercadoLibre has a one year low of $1,324.99 and a one year high of $2,161.73. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28.

Institutional Investors Weigh In On MercadoLibre

Several institutional investors and hedge funds have recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. grew its position in MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after acquiring an additional 16 shares in the last quarter. Optimum Investment Advisors grew its holdings in shares of MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares in the last quarter. Financial Connections Group Inc. purchased a new stake in MercadoLibre during the 2nd quarter worth approximately $36,000. Quarry LP acquired a new stake in MercadoLibre during the 2nd quarter worth approximately $43,000. Finally, Legacy Bridge LLC boosted its position in MercadoLibre by 53.3% in the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after buying an additional 8 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

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.