Citigroup Lowers MercadoLibre (NASDAQ:MELI) Price Target to $2,450.00

MercadoLibre (NASDAQ:MELI) had its price objective decreased by Citigroup from $2,480.00 to $2,450.00 in a research note published on Tuesday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other analysts also recently issued reports on MELI. Morgan Stanley dropped their price target on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Bank of America lifted their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Wedbush reissued an “outperform” rating and issued a $2,200.00 price target (up previously from $2,000.00) on shares of MercadoLibre in a research note on Thursday, November 7th. Redburn Atlantic assumed coverage on MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price target on the stock. Finally, Barclays dropped their price target on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2,267.67.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $1,985.17 on Tuesday. The company has a market capitalization of $100.64 billion, a PE ratio of 70.05, a PEG ratio of 1.39 and a beta of 1.61. MercadoLibre has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The stock’s fifty day simple moving average is $2,020.96 and its 200 day simple moving average is $1,867.64.

Hedge Funds Weigh In On MercadoLibre

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Tidal Investments LLC grew its holdings in MercadoLibre by 59.7% during the third quarter. Tidal Investments LLC now owns 15,829 shares of the company’s stock worth $32,480,000 after purchasing an additional 5,918 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of MercadoLibre during the third quarter worth approximately $977,000. World Investment Advisors LLC boosted its holdings in shares of MercadoLibre by 35.7% during the third quarter. World Investment Advisors LLC now owns 475 shares of the company’s stock worth $975,000 after acquiring an additional 125 shares during the period. Anchor Investment Management LLC boosted its holdings in shares of MercadoLibre by 19.1% during the third quarter. Anchor Investment Management LLC now owns 629 shares of the company’s stock worth $1,291,000 after acquiring an additional 101 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of MercadoLibre during the third quarter worth approximately $12,784,000. 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.