MercadoLibre (NASDAQ:MELI) Price Target Cut to $2,200.00 by Analysts at Barclays

MercadoLibre (NASDAQ:MELI) had its target price trimmed by Barclays from $2,500.00 to $2,200.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities analysts also recently issued reports about the company. Morgan Stanley cut their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday. Cantor Fitzgerald lowered their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Susquehanna raised their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price objective for the company. in a research report on Wednesday, October 2nd. Finally, StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,286.33.

MercadoLibre Stock Up 0.8 %

Shares of NASDAQ MELI opened at $1,977.39 on Tuesday. The stock has a market capitalization of $100.25 billion, a PE ratio of 69.77, a P/E/G ratio of 1.31 and a beta of 1.61. 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 firm has a fifty day moving average of $2,044.44 and a 200-day moving average of $1,832.95. MercadoLibre has a 52-week low of $1,324.99 and a 52-week high of $2,161.73.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in MercadoLibre by 20.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock valued at $41,794,000 after buying an additional 4,658 shares in the last quarter. SageView Advisory Group LLC bought a new stake in MercadoLibre during the first quarter worth approximately $661,000. Kingsview Wealth Management LLC lifted its position in MercadoLibre by 5.2% in the first quarter. Kingsview Wealth Management LLC now owns 365 shares of the company’s stock worth $552,000 after purchasing an additional 18 shares during the period. Blair William & Co. IL lifted its position in MercadoLibre by 3.5% in the first quarter. Blair William & Co. IL now owns 2,054 shares of the company’s stock worth $3,106,000 after purchasing an additional 70 shares during the period. Finally, Orion Portfolio Solutions LLC boosted its stake in MercadoLibre by 56.2% during the 1st quarter. Orion Portfolio Solutions LLC now owns 764 shares of the company’s stock valued at $1,155,000 after purchasing an additional 275 shares in 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.