Morgan Stanley Cuts MercadoLibre (NASDAQ:MELI) Price Target to $2,450.00

MercadoLibre (NASDAQ:MELI - Get Free Report) had its price target reduced by equities research analysts at Morgan Stanley from $2,500.00 to $2,450.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Morgan Stanley's price objective would indicate a potential upside of 25.33% from the company's previous close.

MELI has been the subject of a number of other reports. Susquehanna lifted their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a "positive" rating in a research note on Wednesday, August 28th. Cantor Fitzgerald decreased their target price on MercadoLibre from $2,530.00 to $2,300.00 and set an "overweight" rating for the company in a research note on Thursday. 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 note on Thursday. Raymond James began coverage on MercadoLibre in a research note on Friday, September 27th. They issued an "outperform" rating and a $2,350.00 target price for the company. Finally, Bank of America lifted their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a "buy" rating in a research note on Thursday, September 12th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, MercadoLibre has a consensus rating of "Moderate Buy" and a consensus price target of $2,306.33.

MercadoLibre Price Performance

NASDAQ:MELI traded up $82.87 during trading hours on Monday, reaching $1,954.88. 705,993 shares of the company traded hands, compared to its average volume of 363,996. The firm's 50-day moving average is $2,046.45 and its 200-day moving average is $1,828.74. The stock has a market cap of $99.11 billion, a P/E ratio of 68.94, a P/E/G ratio of 1.15 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. MercadoLibre has a 1-year low of $1,324.99 and a 1-year high of $2,161.73.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. GQG Partners LLC increased its stake in MercadoLibre by 442.2% in the first quarter. GQG Partners LLC now owns 794,782 shares of the company's stock valued at $1,201,679,000 after acquiring an additional 648,198 shares during the period. International Assets Investment Management LLC grew its stake in MercadoLibre by 205,108.3% during the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company's stock worth $509,506,000 after buying an additional 248,181 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in MercadoLibre by 43.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company's stock worth $1,167,073,000 after buying an additional 232,787 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in MercadoLibre during the second quarter worth about $2,913,000. Finally, Janus Henderson Group PLC grew its stake in MercadoLibre by 55.8% during the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company's stock worth $557,225,000 after buying an additional 132,028 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

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.