MercadoLibre (NASDAQ:MELI) Price Target Lowered to $2,200.00 at Barclays

MercadoLibre (NASDAQ:MELI) had its price objective lowered by equities researchers at Barclays from $2,500.00 to $2,200.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 12.21% from the company’s current price.

A number of other research firms have also weighed in on MELI. Bank of America boosted their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Redburn Atlantic began coverage on shares of MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target on the stock. BTIG Research cut their price objective on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Citigroup boosted their target price on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Raymond James began coverage on shares of MercadoLibre in a report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price target for the company. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2,286.33.

MercadoLibre Price Performance

MELI traded down $0.58 during trading on Tuesday, reaching $1,960.58. The company’s stock had a trading volume of 122,990 shares, compared to its average volume of 364,181. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The firm has a fifty day simple moving average of $2,044.44 and a two-hundred day simple moving average of $1,832.95. The company has a market cap of $99.40 billion, a price-to-earnings ratio of 69.40, a PEG ratio of 1.15 and a beta of 1.61. MercadoLibre has a 1 year low of $1,324.99 and a 1 year high of $2,161.73.

Institutional Investors Weigh In On MercadoLibre

Hedge funds have recently bought and sold shares of the stock. GQG Partners LLC grew its stake in shares of MercadoLibre by 442.2% during the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after purchasing an additional 648,198 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of MercadoLibre by 205,108.3% during the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock worth $509,506,000 after acquiring an additional 248,181 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in MercadoLibre by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after purchasing an additional 232,787 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of MercadoLibre during the 2nd quarter worth approximately $2,913,000. Finally, Janus Henderson Group PLC raised its stake in MercadoLibre by 55.8% during the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after acquiring an additional 132,028 shares in the last quarter. 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.