MercadoLibre (NASDAQ:MELI) Upgraded to Strong-Buy at Raymond James

MercadoLibre (NASDAQ:MELI) was upgraded by equities researchers at Raymond James from an “outperform” rating to a “strong-buy” rating in a research report issued on Tuesday,Finviz reports. The firm currently has a $2,250.00 target price on the stock. Raymond James’ target price would indicate a potential upside of 22.55% from the company’s previous close.

A number of other equities research analysts also recently commented on the stock. Redburn Atlantic started coverage on shares of MercadoLibre in a research report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective on the stock. Cantor Fitzgerald decreased their price objective on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Citigroup dropped their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. JPMorgan Chase & Co. decreased their price target on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, BTIG Research cut their price objective on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,241.00.

MercadoLibre Price Performance

MELI stock opened at $1,836.00 on Tuesday. MercadoLibre has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. The firm has a market capitalization of $93.09 billion, a PE ratio of 64.78, a price-to-earnings-growth ratio of 0.98 and a beta of 1.60. The business has a 50 day simple moving average of $1,851.08 and a 200-day simple moving average of $1,909.26. 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 at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the company’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 directly owns 238 shares of the company’s stock, valued at approximately $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MercadoLibre

A number of institutional investors have recently bought and sold shares of MELI. Optimum Investment Advisors raised its position in shares of MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares during the period. Grove Bank & Trust raised its holdings in MercadoLibre by 120.0% in the 4th quarter. Grove Bank & Trust now owns 22 shares of the company’s stock worth $37,000 after acquiring an additional 12 shares during the period. Quarry LP acquired a new position in MercadoLibre during the 2nd quarter worth $43,000. Legacy Bridge LLC boosted its holdings in MercadoLibre by 53.3% during the third quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after acquiring an additional 8 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in MercadoLibre by 123.1% during the fourth quarter. GAMMA Investing LLC now owns 29 shares of the company’s stock valued at $49,000 after acquiring an additional 16 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

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.