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

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have received a consensus rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $2,247.67.

Several equities research analysts have recently issued reports on the company. Raymond James started coverage on MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective for the company. Redburn Atlantic initiated coverage on MercadoLibre in a research report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price target for the company. Cantor Fitzgerald reduced their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Citigroup dropped their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Finally, BTIG Research cut their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th.

Insider Activity

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the completion of the sale, the director now owns 238 shares in the company, valued at $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Jennison Associates LLC grew its holdings in MercadoLibre by 3.9% in the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after purchasing an additional 70,154 shares during the last quarter. FMR LLC boosted its position in shares of MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after purchasing an additional 137,564 shares in the last quarter. State Street Corp grew its stake in MercadoLibre by 3.1% during the 3rd quarter. State Street Corp now owns 404,584 shares of the company’s stock worth $830,190,000 after buying an additional 12,000 shares during the last quarter. Wellington Management Group LLP grew its stake in MercadoLibre by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after buying an additional 120,922 shares during the last quarter. Finally, Legal & General Group Plc increased its position in MercadoLibre by 3.6% during the 2nd quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock valued at $531,755,000 after buying an additional 11,265 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 1.1 %

Shares of NASDAQ:MELI opened at $1,758.77 on Monday. The company has a market cap of $89.16 billion, a price-to-earnings ratio of 62.06, a PEG ratio of 1.24 and a beta of 1.60. MercadoLibre has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The company has a 50-day moving average price of $1,871.83 and a 200 day moving average price of $1,901.10.

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.