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

MercadoLibre (NASDAQ:MELI) had its target price lowered by Barclays from $2,500.00 to $2,200.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities analysts also recently issued reports about the company. Wedbush reiterated an “outperform” rating and set a $2,200.00 target price (up from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Susquehanna increased their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Citigroup upped their price target on MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group upped their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. 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. Based on data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus target price of $2,269.67.

MercadoLibre Trading Down 0.3 %

NASDAQ MELI traded down $5.87 during trading hours on Tuesday, hitting $1,870.33. 143,032 shares of the company’s stock were exchanged, compared to its average volume of 366,704. The business’s 50 day moving average is $2,039.73 and its 200-day moving average is $1,837.90. MercadoLibre has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The firm has a market capitalization of $94.83 billion, a P/E ratio of 66.20, a price-to-earnings-growth ratio of 1.31 and a beta of 1.61. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

Institutional Investors Weigh In On MercadoLibre

Large investors have recently modified their holdings of the stock. Raymond James & Associates lifted its holdings in MercadoLibre by 4.8% during the 2nd quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock worth $57,256,000 after buying an additional 1,604 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in MercadoLibre by 20.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock valued at $41,794,000 after acquiring an additional 4,658 shares during the period. Caprock Group LLC increased its position in MercadoLibre by 143.7% in the 2nd quarter. Caprock Group LLC now owns 580 shares of the company’s stock valued at $955,000 after acquiring an additional 342 shares during the period. Sarasin & Partners LLP increased its position in MercadoLibre by 168.5% in the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after acquiring an additional 28,494 shares during the period. Finally, Privium Fund Management UK Ltd acquired a new stake in MercadoLibre in the 2nd quarter valued at approximately $875,000. 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.