MercadoLibre, Inc. (NASDAQ:MELI) Given Average Rating of “Moderate Buy” by Analysts

MercadoLibre, Inc. (NASDAQ:MELI) has earned an average rating of “Moderate Buy” from the seventeen analysts that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $2,267.67.

MELI has been the subject of several analyst reports. 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 for the company. Citigroup lowered 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 research report on Tuesday. Raymond James started coverage on shares of MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price objective for the company. Cantor Fitzgerald lowered their price objective on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Finally, Wedbush reiterated an “outperform” rating and set a $2,200.00 price objective (up from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,044.76 on Friday. The firm has a 50 day moving average of $2,023.33 and a 200-day moving average of $1,865.50. The stock has a market capitalization of $103.67 billion, a PE ratio of 72.15, a PEG ratio of 1.43 and a beta of 1.61. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre has a 12 month low of $1,324.99 and a 12 month high of $2,161.73.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after buying an additional 16 shares during the period. Optimum Investment Advisors boosted its holdings in 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 acquiring an additional 15 shares in the last quarter. Financial Connections Group Inc. bought a new stake in MercadoLibre in the second quarter valued at $36,000. Quarry LP bought a new stake in MercadoLibre in the second quarter valued at $43,000. Finally, Legacy Bridge LLC boosted its holdings in MercadoLibre by 53.3% in the third quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after acquiring an additional 8 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other 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.