MercadoLibre (NASDAQ:MELI) Stock Rating Upgraded by New Street Research

MercadoLibre (NASDAQ:MELI) was upgraded by equities researchers at New Street Research from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday, MarketBeat reports. The brokerage presently has a $2,300.00 target price on the stock, up from their previous target price of $2,000.00. New Street Research’s target price would suggest a potential upside of 19.66% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. reduced their price objective on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Morgan Stanley reduced their price target on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Redburn Atlantic started coverage on MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price target for the company. Cantor Fitzgerald dropped their price objective on 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. Finally, Citigroup cut their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $2,244.69.

MercadoLibre Trading Down 1.3 %

NASDAQ:MELI opened at $1,922.19 on Thursday. The company has a market cap of $97.46 billion, a P/E ratio of 67.83, a price-to-earnings-growth ratio of 1.00 and a beta of 1.60. MercadoLibre has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The business has a 50 day moving average price of $1,841.29 and a two-hundred day moving average price of $1,915.14. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

Insiders Place Their Bets

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the 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 transaction, the director now owns 238 shares in the company, valued at $472,425.24. This trade represents a 17.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On MercadoLibre

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