Bank of America Boosts MercadoLibre (NASDAQ:MELI) Price Target to $3,000.00

MercadoLibre (NASDAQ:MELI) had its price objective upped by Bank of America from $2,500.00 to $3,000.00 in a report released on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts also recently issued reports on MELI. Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective on the stock in a research report on Tuesday, January 21st. Barclays decreased their target price 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 lowered their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and raised their price objective for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Finally, Cantor Fitzgerald lowered their price target on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, MercadoLibre currently has an average rating of “Buy” and an average price target of $2,364.06.

MercadoLibre Price Performance

MercadoLibre stock opened at $2,260.00 on Friday. MercadoLibre has a one year low of $1,324.99 and a one year high of $2,374.54. The business has a fifty day moving average price of $1,867.29 and a 200-day moving average price of $1,956.30. 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 $114.58 billion, a P/E ratio of 79.75, a PEG ratio of 1.10 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a net margin of 7.57% and a return on equity of 40.71%. The company had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. As a group, equities research analysts forecast that MercadoLibre will post 32.98 EPS for the current year.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the sale, the director now directly owns 238 shares in the company, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is currently owned by insiders.

Institutional Trading of MercadoLibre

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MELI. Human Investing LLC purchased a new position in MercadoLibre during the fourth quarter worth about $26,000. Pacific Capital Wealth Advisors Inc. boosted its holdings in MercadoLibre by 220.0% in the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after acquiring an additional 11 shares during the period. Brown Lisle Cummings Inc. grew its holdings in MercadoLibre by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 8 shares in the last quarter. Covestor Ltd acquired a new stake in shares of MercadoLibre during the fourth quarter valued at about $27,000. Finally, Heck Capital Advisors LLC purchased a new stake in MercadoLibre during the 4th quarter worth approximately $32,000. Hedge funds and other 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.