Analysts Set MercadoLibre, Inc. (NASDAQ:MELI) Price Target at $2,247.67

Shares of MercadoLibre, Inc. (NASDAQ:MELI - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the seventeen analysts that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $2,247.67.

Several research analysts have recently issued reports on MELI shares. Cantor Fitzgerald cut 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 report on Thursday, November 7th. Barclays lowered their price objective on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an "overweight" rating for the company in a research note on Tuesday, November 12th. Raymond James started coverage on shares of MercadoLibre in a report on Friday, September 27th. They set an "outperform" rating and a $2,350.00 target price for the company. Morgan Stanley reduced their price target on MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating on the stock in a report on Monday, November 11th. Finally, Wedbush dropped their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating for the company in a report on Monday, January 6th.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the transaction, the director now directly owns 238 shares of the company's stock, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MercadoLibre

Hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in shares of MercadoLibre by 205,108.3% in the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company's stock worth $509,506,000 after purchasing an additional 248,181 shares during the last quarter. FMR LLC increased its holdings in 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 buying an additional 137,564 shares in the last quarter. Wellington Management Group LLP raised its position in MercadoLibre by 52.9% in 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. Swedbank AB lifted its stake in MercadoLibre by 352.8% during the 3rd quarter. Swedbank AB now owns 94,123 shares of the company's stock valued at $193,137,000 after acquiring an additional 73,336 shares during the period. Finally, Jennison Associates LLC boosted its holdings in shares of MercadoLibre by 3.9% during the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company's stock valued at $3,845,207,000 after acquiring an additional 70,154 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Trading Up 1.1 %

MELI stock opened at $1,758.77 on Monday. The company has a market capitalization of $89.16 billion, a PE ratio of 62.06, a price-to-earnings-growth ratio of 1.24 and a beta of 1.60. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre has a one year low of $1,324.99 and a one year high of $2,161.73. The company's 50 day moving average price is $1,871.83 and its two-hundred day moving average price is $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.