MercadoLibre, Inc. (NASDAQ:MELI) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of MercadoLibre, Inc. (NASDAQ:MELI - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the seventeen ratings firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $2,267.67.

A number of research firms have recently issued reports on MELI. Wedbush reissued an "outperform" rating and issued a $2,200.00 price objective (up previously from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. Barclays cut their price target on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 12th. Susquehanna raised their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a "positive" rating in a report on Wednesday, August 28th. Raymond James began coverage on MercadoLibre in a report on Friday, September 27th. They set an "outperform" rating and a $2,350.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased their price target on MercadoLibre from $2,400.00 to $2,150.00 and set a "neutral" rating for the company in a research note on Wednesday, November 13th.

Insider Activity

In related news, Director Emiliano Calemzuk sold 50 shares of the business's stock in a transaction 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 completion of the sale, the director now directly owns 238 shares in the company, valued at $472,425.24. The trade was a 17.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.06% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company's stock valued at $28,000 after buying an additional 16 shares in the last quarter. Optimum Investment Advisors increased its stake in MercadoLibre by 750.0% during the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company's stock worth $35,000 after acquiring an additional 15 shares during the period. Financial Connections Group Inc. acquired a new position in MercadoLibre in the 2nd quarter valued at $36,000. Legacy Bridge LLC lifted its position in shares of MercadoLibre by 53.3% during the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company's stock valued at $47,000 after acquiring an additional 8 shares during the period. Finally, Quarry LP acquired a new stake in shares of MercadoLibre during the 2nd quarter worth $43,000. Institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Down 2.9 %

MercadoLibre stock traded down $50.38 during midday trading on Thursday, reaching $1,666.00. The stock had a trading volume of 925,804 shares, compared to its average volume of 374,698. MercadoLibre has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. 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 firm's fifty day simple moving average is $1,971.39 and its 200-day simple moving average is $1,881.39. The stock has a market capitalization of $84.46 billion, a P/E ratio of 58.79, a price-to-earnings-growth ratio of 1.29 and a beta of 1.57.

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.