MercadoLibre (NASDAQ:MELI) Rating Increased to Buy at New Street Research

New Street Research upgraded shares of MercadoLibre (NASDAQ:MELI - Free Report) from a neutral rating to a buy rating in a report published on Thursday, MarketBeat.com reports. They currently have $2,300.00 target price on the stock, up from their previous target price of $2,000.00.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. reduced 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 research report on Wednesday, January 8th. Wedbush reduced their target price on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating on the stock in a report on Monday, January 6th. Barclays lowered their price target on MercadoLibre from $2,500.00 to $2,200.00 and set an "overweight" rating for the company in a report on Tuesday, November 12th. Citigroup reduced their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating on the stock in a research note on Tuesday, November 26th. Finally, BTIG Research decreased their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a "buy" rating for the company in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, MercadoLibre currently has an average rating of "Buy" and an average target price of $2,244.69.

MercadoLibre Trading Up 3.1 %

Shares of MercadoLibre stock traded up $58.08 during trading hours on Thursday, reaching $1,947.84. The stock had a trading volume of 432,147 shares, compared to its average volume of 330,170. The firm has a market capitalization of $98.76 billion, a price-to-earnings ratio of 68.73, a P/E/G ratio of 0.96 and a beta of 1.60. MercadoLibre has a 1 year low of $1,324.99 and a 1 year 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 firm has a 50 day simple moving average of $1,841.64 and a two-hundred day simple moving average of $1,914.92.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the company's 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 sale, the director now directly owns 238 shares of the company's stock, valued at approximately $472,425.24. This represents a 17.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Institutional Trading of MercadoLibre

Large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its stake in MercadoLibre by 39.9% during the second quarter. Dimensional Fund Advisors LP now owns 235 shares of the company's stock valued at $386,000 after buying an additional 67 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of MercadoLibre by 3.0% during the second quarter. Mackenzie Financial Corp now owns 1,727 shares of the company's stock valued at $2,838,000 after acquiring an additional 51 shares during the period. Algert Global LLC lifted its position in shares of MercadoLibre by 30.0% in the 2nd quarter. Algert Global LLC now owns 390 shares of the company's stock valued at $641,000 after acquiring an additional 90 shares in the last quarter. Quarry LP acquired a new position in MercadoLibre in the 2nd quarter worth approximately $43,000. Finally, EP Wealth Advisors LLC purchased a new position in MercadoLibre during the 2nd quarter worth approximately $240,000. 87.62% of the stock is currently owned by institutional investors.

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.