Mercadolibre (NASDAQ:MELI) had its price target upped by investment analysts at Piper Sandler from $675.00 to $760.00 in a report issued on Wednesday, The Fly reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 15.28% from the stock’s previous close.
MELI has been the subject of several other research reports. TheStreet raised Mercadolibre from a “d+” rating to a “c-” rating in a research report on Monday, December 23rd. UBS Group lowered their price objective on Mercadolibre from $730.00 to $670.00 and set a “buy” rating for the company in a report on Monday, October 21st. BidaskClub upgraded Mercadolibre from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 18th. Itau BBA Securities upgraded Mercadolibre from an “underperform” rating to a “market perform” rating in a research report on Monday, December 30th. Finally, ValuEngine downgraded Mercadolibre from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $666.89.
Shares of Mercadolibre stock traded down $4.04 on Wednesday, reaching $659.29. The company’s stock had a trading volume of 180,500 shares, compared to its average volume of 407,290. The stock has a 50-day moving average price of $613.51 and a 200-day moving average price of $587.68. The company has a market capitalization of $32.97 billion, a P/E ratio of -256.53 and a beta of 1.59. The company has a quick ratio of 2.72, a current ratio of 2.73 and a debt-to-equity ratio of 0.38. Mercadolibre has a 52-week low of $330.00 and a 52-week high of $698.98.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Bartlett & Co. LLC acquired a new stake in Mercadolibre during the 3rd quarter valued at $26,000. Reilly Financial Advisors LLC raised its holdings in shares of Mercadolibre by 64.5% during the third quarter. Reilly Financial Advisors LLC now owns 51 shares of the company’s stock worth $28,000 after acquiring an additional 20 shares during the period. Lindbrook Capital LLC acquired a new stake in shares of Mercadolibre during the third quarter worth $28,000. CWM LLC raised its holdings in shares of Mercadolibre by 912.5% during the third quarter. CWM LLC now owns 81 shares of the company’s stock worth $45,000 after acquiring an additional 73 shares during the period. Finally, NEXT Financial Group Inc raised its holdings in shares of Mercadolibre by 104.3% during the third quarter. NEXT Financial Group Inc now owns 96 shares of the company’s stock worth $53,000 after acquiring an additional 49 shares during the period. 81.14% of the stock is currently owned by institutional investors.
Mercadolibre Company Profile
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.
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