MercadoLibre, Inc. (NASDAQ:MELI) Given Consensus Rating of “Buy” by Brokerages

MercadoLibre, Inc. (NASDAQ:MELI) has received an average recommendation of “Buy” from the seventeen brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $2,244.69.

MELI has been the topic of several recent research reports. Redburn Atlantic assumed coverage on shares of MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price on the stock. JPMorgan Chase & Co. cut their price target on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Citigroup decreased 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. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price on the stock in a report on Tuesday, January 21st. Finally, Wedbush decreased their price target on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research note on Monday, January 6th.

MercadoLibre Price Performance

Shares of MELI opened at $2,012.80 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The stock has a market cap of $102.05 billion, a PE ratio of 71.02, a PEG ratio of 1.02 and a beta of 1.62. MercadoLibre has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The business has a 50-day simple moving average of $1,831.55 and a two-hundred day simple moving average of $1,924.10.

Insiders Place Their Bets

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

Hedge Funds Weigh In On MercadoLibre

A number of institutional investors have recently modified their holdings of MELI. Human Investing LLC bought a new stake in MercadoLibre during the 4th quarter valued at $26,000. Pacific Capital Wealth Advisors Inc. increased its position 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 acquiring an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. raised its holdings in shares of MercadoLibre by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after acquiring an additional 8 shares during the last quarter. Heck Capital Advisors LLC bought a new position in MercadoLibre in the 4th quarter valued at about $32,000. Finally, Mather Group LLC. boosted its stake in MercadoLibre by 171.4% during the 4th quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after purchasing an additional 12 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

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.