MercadoLibre (NASDAQ:MELI) Stock Rating Upgraded by Raymond James

MercadoLibre (NASDAQ:MELI) was upgraded by stock analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, MarketBeat reports. The firm currently has a $2,250.00 price objective on the stock. Raymond James’ price target suggests a potential upside of 23.73% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Morgan Stanley dropped their price target on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Cantor Fitzgerald reduced their target price on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Wedbush dropped their price target on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Citigroup reduced their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Finally, BTIG Research dropped their target price on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $2,241.00.

MercadoLibre Stock Down 0.9 %

NASDAQ MELI opened at $1,818.49 on Tuesday. MercadoLibre has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. The company has a market capitalization of $92.20 billion, a P/E ratio of 64.17, a PEG ratio of 0.98 and a beta of 1.60. The company’s 50 day simple moving average is $1,848.22 and its 200 day simple moving average is $1,910.50. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

Insider Transactions at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value of $99,249.00. Following the transaction, the director now owns 238 shares in the company, valued at approximately $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.06% of the company’s stock.

Institutional Trading of MercadoLibre

Institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new stake in shares of MercadoLibre in the 3rd quarter valued at $114,417,000. Principal Financial Group Inc. lifted its position in shares of MercadoLibre by 20.9% in the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock worth $121,948,000 after buying an additional 10,272 shares during the last quarter. KBC Group NV boosted its stake in shares of MercadoLibre by 205.5% during the 3rd quarter. KBC Group NV now owns 26,279 shares of the company’s stock worth $53,923,000 after acquiring an additional 17,677 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of MercadoLibre by 37.8% during the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock valued at $271,897,000 after acquiring an additional 43,215 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd raised its stake in shares of MercadoLibre by 40.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock valued at $5,598,000 after acquiring an additional 780 shares in 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.