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

MercadoLibre (NASDAQ:MELI) was upgraded by analysts at New Street Research from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday,Finviz reports. The brokerage currently has a $2,300.00 price target on the stock, up from their prior price target of $2,000.00. New Street Research’s target price suggests a potential upside of 21.71% from the stock’s current price.

A number of other equities research analysts have also weighed in on MELI. Cantor Fitzgerald reduced their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a research report on Tuesday, January 21st. Morgan Stanley dropped their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. 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. Finally, Wedbush dropped their target price on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, MercadoLibre presently has an average rating of “Buy” and an average price target of $2,244.69.

MercadoLibre Trading Down 0.3 %

MELI opened at $1,889.76 on Thursday. MercadoLibre has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The firm has a market capitalization of $95.81 billion, a price-to-earnings ratio of 66.68, a PEG ratio of 0.96 and a beta of 1.60. The company’s 50 day moving average price is $1,842.47 and its two-hundred day moving average price is $1,915.10.

Insider Transactions at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On MercadoLibre

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MELI. Planning Capital Management Corp lifted its holdings in MercadoLibre by 9.1% in the third quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock valued at $123,000 after acquiring an additional 5 shares during the period. Mount Lucas Management LP increased its position in shares of MercadoLibre by 3.6% in the third quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock valued at $293,000 after buying an additional 5 shares in the last quarter. Strategic Blueprint LLC increased its position in shares of MercadoLibre by 0.9% in the third quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock valued at $1,350,000 after buying an additional 6 shares in the last quarter. Nvwm LLC increased its position in shares of MercadoLibre by 0.5% in the fourth quarter. Nvwm LLC now owns 1,137 shares of the company’s stock valued at $1,933,000 after buying an additional 6 shares in the last quarter. Finally, NBC Securities Inc. increased its position in shares of MercadoLibre by 35.0% in the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after buying an additional 7 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

About MercadoLibre

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.