MercadoLibre (NASDAQ:MELI) Stock Rating Upgraded by New Street Research

MercadoLibre (NASDAQ:MELI) was upgraded by equities researchers at New Street Research from a “neutral” rating to a “buy” rating in a report released on Thursday,Finviz reports. The brokerage currently has a $2,300.00 target price on the stock, up from their previous target price of $2,000.00. New Street Research’s price target would indicate a potential upside of 21.71% from the stock’s current price.

MELI has been the topic of several other reports. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price on the stock in a report on Tuesday, January 21st. Redburn Atlantic started coverage on shares of MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Wedbush lowered their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. Finally, Cantor Fitzgerald lowered their price objective on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre currently has an average rating of “Buy” and an average target price of $2,244.69.

MercadoLibre Trading Down 0.3 %

Shares of NASDAQ MELI opened at $1,889.76 on Thursday. The company’s 50 day simple moving average is $1,842.47 and its 200 day simple moving average is $1,915.10. MercadoLibre has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The firm has a market capitalization of $95.81 billion, a P/E ratio of 66.68, a P/E/G ratio of 0.96 and a beta of 1.60. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

Insider Activity

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

Institutional Trading of MercadoLibre

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Pacific Capital Wealth Advisors Inc. raised its position in shares of MercadoLibre by 220.0% in the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. raised its position in shares of MercadoLibre by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 8 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at approximately $32,000. Mather Group LLC. raised its position in shares of MercadoLibre by 171.4% in the 4th quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after buying an additional 12 shares in the last quarter. Finally, Optimum Investment Advisors raised its position in shares of MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after buying an additional 15 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Company Profile

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.