MercadoLibre (NASDAQ:MELI) Given New $3,000.00 Price Target at Bank of America

MercadoLibre (NASDAQ:MELI) had its price target hoisted by stock analysts at Bank of America from $2,500.00 to $3,000.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 42.15% from the company’s current price.

MELI has been the subject of a number of other reports. Morgan Stanley dropped their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Cantor Fitzgerald dropped their target price on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. JPMorgan Chase & Co. dropped their target price on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price for the company in a report on Tuesday, January 21st. Finally, Barclays dropped their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $2,294.69.

MercadoLibre Price Performance

NASDAQ MELI opened at $2,110.47 on Friday. MercadoLibre has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The stock has a market capitalization of $107.00 billion, a PE ratio of 74.47, a P/E/G ratio of 1.10 and a beta of 1.62. The stock has a 50-day simple moving average of $1,858.57 and a 200 day simple moving average of $1,952.94.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a return on equity of 40.71% and a net margin of 7.57%. Research analysts anticipate that MercadoLibre will post 32.98 EPS for the current year.

Insider Activity

In related news, Director Emiliano Calemzuk sold 50 shares of the firm’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 owns 238 shares of the company’s stock, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.06% of the stock is currently owned by company insiders.

Institutional Trading of MercadoLibre

Hedge funds have recently added to or reduced their stakes in the business. Human Investing LLC acquired a new stake in MercadoLibre during the 4th quarter worth $26,000. Pacific Capital Wealth Advisors Inc. raised its stake in MercadoLibre by 220.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after buying an additional 11 shares during the period. Brown Lisle Cummings Inc. raised its stake in MercadoLibre by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after buying an additional 8 shares during the period. Covestor Ltd acquired a new stake in MercadoLibre during the 4th quarter worth $27,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of MercadoLibre in the 4th quarter valued at about $32,000. Institutional investors and hedge funds 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.