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

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 morning, MarketBeat Ratings reports. The firm currently has $2,300.00 price objective on the stock, up from their prior price objective of $2,000.00.

A number of other equities research analysts also recently issued reports on MELI. Morgan Stanley reduced their price target on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating on the stock in a research note on Monday, November 11th. BTIG Research lowered their price target 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. Wedbush cut their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating on the stock in a report on Monday, January 6th. Raymond James upgraded MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price for the company in a report on Tuesday, January 21st. Finally, Cantor Fitzgerald dropped their target price on MercadoLibre from $2,530.00 to $2,300.00 and set an "overweight" rating for the company in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $2,244.69.

MercadoLibre Trading Down 1.3 %

NASDAQ:MELI traded down $25.13 on Thursday, hitting $1,922.19. The stock had a trading volume of 280,656 shares, compared to its average volume of 293,906. The company has a fifty day moving average price of $1,839.63 and a two-hundred day moving average price of $1,917.75. MercadoLibre has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. 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 $97.46 billion, a price-to-earnings ratio of 67.83, a PEG ratio of 1.00 and a beta of 1.60.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the company's stock in a transaction on 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 owns 238 shares in the company, valued at $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.06% of the company's stock.

Institutional Trading of MercadoLibre

Several institutional investors and hedge funds have recently made changes to their positions in MELI. Planning Capital Management Corp grew its stake in MercadoLibre by 9.1% during the 3rd quarter. Planning Capital Management Corp now owns 60 shares of the company's stock worth $123,000 after buying an additional 5 shares during the last quarter. Mount Lucas Management LP grew its position in shares of MercadoLibre by 3.6% during the third quarter. Mount Lucas Management LP now owns 143 shares of the company's stock worth $293,000 after acquiring an additional 5 shares during the last quarter. Strategic Blueprint LLC grew its position in shares of MercadoLibre by 0.9% during the third quarter. Strategic Blueprint LLC now owns 658 shares of the company's stock worth $1,350,000 after acquiring an additional 6 shares during the last quarter. Nvwm LLC increased its holdings in shares of MercadoLibre by 0.5% in the 4th quarter. Nvwm LLC now owns 1,137 shares of the company's stock valued at $1,933,000 after acquiring an additional 6 shares during the period. Finally, NBC Securities Inc. raised its position in MercadoLibre by 35.0% in the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company's stock valued at $55,000 after purchasing an additional 7 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

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.