BTIG Research Issues Pessimistic Forecast for MercadoLibre (NASDAQ:MELI) Stock Price

MercadoLibre (NASDAQ:MELI) had its target price lowered by BTIG Research from $2,250.00 to $2,200.00 in a report published on Thursday morning,Benzinga reports. BTIG Research currently has a buy rating on the stock.

MELI has been the topic of several other research reports. Citigroup boosted their target price on MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Morgan Stanley increased their price objective on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Bank of America boosted their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. The Goldman Sachs Group boosted their price objective on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Susquehanna increased their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $2,306.33.

MercadoLibre Stock Up 1.4 %

MELI stock opened at $1,898.72 on Thursday. MercadoLibre has a one year low of $1,324.99 and a one year high of $2,161.73. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The company has a fifty day moving average of $2,046.45 and a 200-day moving average of $1,828.74. The stock has a market capitalization of $96.27 billion, a PE ratio of 66.06, a price-to-earnings-growth ratio of 1.15 and a beta of 1.61.

Hedge Funds Weigh In On MercadoLibre

Several hedge funds have recently bought and sold shares of the stock. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after acquiring an additional 16 shares during the last quarter. Optimum Investment Advisors lifted its holdings in MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares in the last quarter. Financial Connections Group Inc. acquired a new stake in shares of MercadoLibre during the 2nd quarter worth about $36,000. Quarry LP acquired a new stake in shares of MercadoLibre during the 2nd quarter worth about $43,000. Finally, Legacy Bridge LLC grew its holdings in shares of MercadoLibre by 53.3% during the third quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock worth $47,000 after buying an additional 8 shares in the last quarter. Hedge funds and other 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.