Wedbush Lowers MercadoLibre (NASDAQ:MELI) Price Target to $2,100.00

MercadoLibre (NASDAQ:MELI - Get Free Report) had its price objective decreased by equities research analysts at Wedbush from $2,200.00 to $2,100.00 in a research report issued on Monday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Wedbush's price target would suggest a potential upside of 16.70% from the company's previous close.

Several other research analysts also recently issued reports on MELI. Barclays lowered their price target on shares of 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 dropped their target price on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating on the stock in a report on Tuesday, November 26th. Redburn Atlantic assumed coverage on shares of MercadoLibre in a research report on Friday, October 11th. They set a "buy" rating and a $2,800.00 target price on the stock. Cantor Fitzgerald dropped their price target on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an "overweight" rating on the stock in a research report on Thursday, November 7th. Finally, BTIG Research decreased 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. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $2,261.00.

MercadoLibre Price Performance

MELI traded down $34.75 during trading on Monday, hitting $1,799.42. 365,413 shares of the stock traded hands, compared to its average volume of 425,761. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The company has a market cap of $91.23 billion, a price-to-earnings ratio of 63.49, a PEG ratio of 1.24 and a beta of 1.60. The business has a 50 day moving average price of $1,899.59 and a 200 day moving average price of $1,896.04.

Insider Buying and Selling at MercadoLibre

In related 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 transaction of $99,249.00. Following the completion of the transaction, the director now owns 238 shares in the company, valued at approximately $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.06% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio purchased a new position in shares of MercadoLibre in the 3rd quarter worth approximately $114,417,000. KBC Group NV raised its holdings in shares of MercadoLibre by 205.5% in the 3rd quarter. KBC Group NV now owns 26,279 shares of the company's stock valued at $53,923,000 after purchasing an additional 17,677 shares in the last quarter. Principal Financial Group Inc. boosted its position in MercadoLibre by 20.9% during the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company's stock valued at $121,948,000 after acquiring an additional 10,272 shares in the last quarter. Y Intercept Hong Kong Ltd increased its holdings in shares of MercadoLibre by 40.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company's stock valued at $5,598,000 after acquiring an additional 780 shares during the period. Finally, Caprock Group LLC raised its position in shares of MercadoLibre by 143.7% in the 2nd quarter. Caprock Group LLC now owns 580 shares of the company's stock worth $955,000 after acquiring an additional 342 shares in the last quarter. Institutional investors 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.