MercadoLibre, Inc. (NASDAQ:MELI) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have received a consensus recommendation of “Moderate Buy” from the eighteen research firms that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $2,872.00.

A number of brokerages have issued reports on MELI. Morgan Stanley raised their target price on MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Barclays upped their price objective on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. UBS Group decreased their target price on shares of MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating on the stock in a report on Monday, November 24th. JPMorgan Chase & Co. raised shares of MercadoLibre from a “neutral” rating to an “overweight” rating and increased their price target for the company from $2,650.00 to $2,800.00 in a research note on Thursday, February 12th. Finally, BTIG Research restated a “buy” rating and set a $2,750.00 price target on shares of MercadoLibre in a report on Wednesday, February 4th.

MercadoLibre Stock Down 6.6%

Shares of MELI opened at $1,864.46 on Tuesday. The stock has a 50 day moving average price of $2,060.10 and a 200 day moving average price of $2,174.77. MercadoLibre has a one year low of $1,723.90 and a one year high of $2,645.22. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.17. The stock has a market capitalization of $94.53 billion, a price-to-earnings ratio of 45.50, a PEG ratio of 0.99 and a beta of 1.44.

Insider Activity

In other news, Director Henrique Vasoncelos Dubugras sold 845 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the director directly owned 257 shares of the company’s stock, valued at $521,034.09. The trade was a 14.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,136 shares of company stock valued at $2,308,788 in the last quarter. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On MercadoLibre

Institutional investors and hedge funds have recently made changes to their positions in the stock. Darwin Wealth Management LLC acquired a new stake in shares of MercadoLibre in the second quarter valued at $29,000. Laurel Wealth Advisors LLC acquired a new position in MercadoLibre in the 4th quarter valued at about $26,000. Transamerica Financial Advisors LLC purchased a new stake in MercadoLibre during the fourth quarter worth about $26,000. Curio Wealth LLC increased its stake 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 purchasing an additional 14 shares during the period. Finally, Stone House Investment Management LLC acquired a new stake in shares of MercadoLibre during the second quarter worth about $39,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Company Profile

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.