MercadoLibre, Inc. (NASDAQ:MELI) Receives $1,752.50 Average Target Price from Brokerages

MercadoLibre, Inc. (NASDAQ:MELIGet Free Report) has earned an average recommendation of “Moderate Buy” from the twelve research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $1,752.50.

A number of analysts have recently weighed in on MELI shares. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research note on Thursday, December 28th. Bank of America raised MercadoLibre from a “neutral” rating to a “buy” rating and set a $2,000.00 price objective for the company in a research note on Monday, November 27th. Wedbush raised their price target on MercadoLibre from $1,700.00 to $1,800.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 27th. Citigroup raised their price target on MercadoLibre from $1,550.00 to $1,900.00 and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. Finally, Susquehanna raised their price target on MercadoLibre from $1,625.00 to $1,850.00 and gave the stock a “positive” rating in a research note on Tuesday, November 28th.

Check Out Our Latest Report on MercadoLibre

Hedge Funds Weigh In On MercadoLibre

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parametrica Management Ltd increased its holdings in shares of MercadoLibre by 0.4% during the fourth quarter. Parametrica Management Ltd now owns 2,113 shares of the company’s stock valued at $3,321,000 after acquiring an additional 9 shares in the last quarter. Dohj LLC bought a new position in shares of MercadoLibre during the fourth quarter valued at $511,000. Headlands Technologies LLC bought a new position in shares of MercadoLibre during the fourth quarter valued at $2,563,000. Kovack Advisors Inc. increased its holdings in shares of MercadoLibre by 9.4% during the fourth quarter. Kovack Advisors Inc. now owns 1,912 shares of the company’s stock valued at $3,004,000 after acquiring an additional 165 shares in the last quarter. Finally, K.J. Harrison & Partners Inc bought a new position in shares of MercadoLibre during the fourth quarter valued at $314,000. Hedge funds and other institutional investors own 80.01% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,772.90 on Monday. The firm has a market cap of $89.64 billion, a PE ratio of 90.73, a price-to-earnings-growth ratio of 1.19 and a beta of 1.52. MercadoLibre has a fifty-two week low of $1,063.02 and a fifty-two week high of $1,800.09. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.24 and a current ratio of 1.27. The business has a 50 day moving average price of $1,631.23 and a 200-day moving average price of $1,419.15.

MercadoLibre Company Profile

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MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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.

Further Reading

Analyst Recommendations for MercadoLibre (NASDAQ:MELI)

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