MercadoLibre (NASDAQ:MELI) Shares Gap Down – What’s Next?

MercadoLibre, Inc. (NASDAQ:MELI)’s share price gapped down prior to trading on Friday . The stock had previously closed at $2,044.76, but opened at $1,984.98. MercadoLibre shares last traded at $1,957.74, with a volume of 106,193 shares.

Wall Street Analysts Forecast Growth

MELI has been the topic of a number of research analyst reports. The Goldman Sachs Group upped their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Wedbush reaffirmed an “outperform” rating and set a $2,200.00 price target (up from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. Redburn Atlantic initiated coverage on MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price on the stock. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Finally, Barclays lowered their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus price target of $2,267.67.

MercadoLibre Trading Down 2.9 %

The company has a 50 day moving average of $2,020.96 and a two-hundred day moving average of $1,868.92. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The stock has a market capitalization of $100.64 billion, a PE ratio of 70.05, a P/E/G ratio of 1.39 and a beta of 1.61.

Institutional Trading of MercadoLibre

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates lifted its position in 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 during the period. KBC Group NV lifted its holdings in shares of MercadoLibre by 205.5% in the 3rd quarter. KBC Group NV now owns 26,279 shares of the company’s stock valued at $53,923,000 after buying an additional 17,677 shares during the period. Caprock Group LLC lifted its holdings in shares of MercadoLibre by 143.7% in the 2nd quarter. Caprock Group LLC now owns 580 shares of the company’s stock valued at $955,000 after buying an additional 342 shares during the period. Sarasin & Partners LLP lifted its holdings in shares of 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 period. Finally, Mirabella Financial Services LLP lifted its holdings in shares of MercadoLibre by 622.1% in the 3rd quarter. Mirabella Financial Services LLP now owns 2,159 shares of the company’s stock valued at $4,430,000 after buying an additional 1,860 shares during the period. Institutional investors and hedge funds 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.