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

MercadoLibre (NASDAQ:MELI) had its target price decreased by Barclays from $2,500.00 to $2,200.00 in a report released on Tuesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other analysts have also issued reports about the company. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Cantor Fitzgerald dropped their target price on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Susquehanna raised their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. Wedbush reissued an “outperform” rating and issued a $2,200.00 price objective (up from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. Finally, BTIG Research dropped their price objective on 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, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $2,269.67.

MercadoLibre Stock Up 0.2 %

MercadoLibre stock opened at $1,880.00 on Tuesday. The firm has a market cap of $95.32 billion, a price-to-earnings ratio of 66.34, a price-to-earnings-growth ratio of 1.31 and a beta of 1.61. MercadoLibre has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The business’s 50-day moving average price is $2,039.73 and its 200 day moving average price is $1,837.90. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

Institutional Trading of MercadoLibre

A number of institutional investors have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in MercadoLibre by 20.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock worth $41,794,000 after buying an additional 4,658 shares in the last quarter. SageView Advisory Group LLC purchased a new position in MercadoLibre during the first quarter worth approximately $661,000. Kingsview Wealth Management LLC lifted its position in MercadoLibre by 5.2% during the first quarter. Kingsview Wealth Management LLC now owns 365 shares of the company’s stock worth $552,000 after buying an additional 18 shares in the last quarter. Blair William & Co. IL lifted its position in MercadoLibre by 3.5% during the first quarter. Blair William & Co. IL now owns 2,054 shares of the company’s stock worth $3,106,000 after buying an additional 70 shares in the last quarter. Finally, Orion Portfolio Solutions LLC lifted its position in MercadoLibre by 56.2% during the first quarter. Orion Portfolio Solutions LLC now owns 764 shares of the company’s stock worth $1,155,000 after buying an additional 275 shares in the last quarter. 87.62% of the stock is 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.