Wedbush Lowers MercadoLibre (NASDAQ:MELI) Price Target to $2,600.00

MercadoLibre (NASDAQ:MELI) had its price objective decreased by research analysts at Wedbush from $2,700.00 to $2,600.00 in a research note issued to investors on Tuesday,MarketScreener reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s target price points to a potential upside of 30.77% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the company. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Friday, February 6th. JPMorgan Chase & Co. upgraded MercadoLibre from a “neutral” rating to an “overweight” rating and upped their target price for the company from $2,650.00 to $2,800.00 in a report on Thursday, February 12th. UBS Group lowered their price target on shares of MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating for the company in a report on Monday, November 24th. Barclays boosted their price target on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, BTIG Research reiterated a “buy” rating and set a $2,750.00 price objective on shares of MercadoLibre in a research report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and a consensus price target of $2,880.00.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $1,988.26 on Tuesday. The stock has a market cap of $100.80 billion, a price-to-earnings ratio of 48.52, a P/E/G ratio of 0.99 and a beta of 1.44. MercadoLibre has a twelve month low of $1,723.90 and a twelve month high of $2,645.22. The company’s fifty day moving average is $2,064.20 and its 200 day moving average is $2,188.78. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.55.

Insider Transactions at MercadoLibre

In other news, Director Emiliano Calemzuk sold 45 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total value of $91,231.65. Following the completion of the sale, the director directly owned 257 shares in the company, valued at $521,034.09. This trade represents a 14.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Stelleo Tolda sold 246 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total value of $503,778.48. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,136 shares of company stock valued at $2,308,788 in the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

Institutional Trading of MercadoLibre

Several hedge funds have recently bought and sold shares of MELI. Darwin Wealth Management LLC purchased a new stake in MercadoLibre in the 2nd quarter valued at about $29,000. Laurel Wealth Advisors LLC bought a new position in shares of MercadoLibre in the fourth quarter valued at approximately $26,000. Transamerica Financial Advisors LLC purchased a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $26,000. Curio Wealth LLC lifted its holdings in MercadoLibre by 1,400.0% during the second quarter. Curio Wealth LLC now owns 15 shares of the company’s stock worth $39,000 after acquiring an additional 14 shares during the period. Finally, Stone House Investment Management LLC purchased a new position in MercadoLibre in the second quarter worth $39,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.