MercadoLibre (NASDAQ:MELI) Price Target Lowered to $2,200.00 at Barclays

MercadoLibre (NASDAQ:MELI) had its price target decreased by analysts at Barclays from $2,500.00 to $2,200.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 13.93% from the company’s current price.

MELI has been the topic of several other reports. Morgan Stanley cut their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday. Susquehanna lifted their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. Citigroup boosted their target price on MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Raymond James assumed coverage on shares of MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price target on the stock. Finally, The Goldman Sachs Group boosted their price objective on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2,269.67.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,930.95 on Tuesday. The company has a market cap of $97.90 billion, a P/E ratio of 68.14, a P/E/G ratio of 1.34 and a beta of 1.61. The firm’s 50 day moving average is $2,044.19 and its two-hundred day moving average is $1,836.97. MercadoLibre has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. 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

Large investors have recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after purchasing an additional 16 shares during the last quarter. Optimum Investment Advisors raised its position in shares of MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares in the last quarter. Financial Connections Group Inc. purchased a new position in shares of MercadoLibre during the 2nd quarter valued at approximately $36,000. Quarry LP acquired a new stake in shares of MercadoLibre during the second quarter worth approximately $43,000. Finally, Legacy Bridge LLC increased its stake in shares of MercadoLibre by 53.3% in the third quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock worth $47,000 after buying an additional 8 shares during the last quarter. 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.