Morgan Stanley Has Lowered Expectations for MercadoLibre (NASDAQ:MELI) Stock Price

MercadoLibre (NASDAQ:MELI) had its target price decreased by Morgan Stanley from $2,500.00 to $2,450.00 in a report released on Monday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

A number of other equities research analysts also recently commented on the stock. Bank of America lifted their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Raymond James assumed coverage on shares of MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price target on the stock. The Goldman Sachs Group boosted their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Citigroup lifted their price target on shares of 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, Wedbush restated an “outperform” rating and issued a $2,200.00 price target (up previously from $2,000.00) on shares of MercadoLibre in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $2,306.33.

MercadoLibre Stock Up 4.8 %

Shares of NASDAQ MELI opened at $1,961.16 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The firm has a 50-day moving average price of $2,046.45 and a 200 day moving average price of $1,828.74. MercadoLibre has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The stock has a market capitalization of $99.42 billion, a price-to-earnings ratio of 69.20, a price-to-earnings-growth ratio of 1.15 and a beta of 1.61.

Hedge Funds Weigh In On MercadoLibre

Several institutional investors and hedge funds have recently modified their holdings of the business. Meeder Advisory Services Inc. raised its stake in MercadoLibre by 10.2% in the 1st quarter. Meeder Advisory Services Inc. now owns 485 shares of the company’s stock valued at $733,000 after acquiring an additional 45 shares during the period. US Bancorp DE raised its position in shares of MercadoLibre by 9.0% during the first quarter. US Bancorp DE now owns 11,688 shares of the company’s stock worth $17,672,000 after acquiring an additional 967 shares during the last quarter. ProShare Advisors LLC raised its position in shares of MercadoLibre by 22.3% during the first quarter. ProShare Advisors LLC now owns 51,712 shares of the company’s stock worth $78,186,000 after acquiring an additional 9,441 shares during the last quarter. Cozad Asset Management Inc. increased its holdings in MercadoLibre by 3.0% in the first quarter. Cozad Asset Management Inc. now owns 345 shares of the company’s stock worth $522,000 after purchasing an additional 10 shares in the last quarter. Finally, Entropy Technologies LP bought a new stake in MercadoLibre in the first quarter worth approximately $2,764,000. 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.