MercadoLibre (NASDAQ:MELI) Price Target Cut to $2,200.00 by Analysts at Barclays

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

MELI has been the topic of several other reports. JPMorgan Chase & Co. cut MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price target on the stock. in a research report on Wednesday, October 2nd. Wedbush reiterated an “outperform” rating and set a $2,200.00 price target (up from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. Bank of America lifted their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. The Goldman Sachs Group lifted their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Morgan Stanley decreased their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average price target of $2,269.67.

MercadoLibre Price Performance

Shares of MELI stock traded down $5.87 during mid-day trading on Tuesday, hitting $1,870.33. 143,032 shares of the stock traded hands, compared to its average volume of 366,704. MercadoLibre has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The firm has a market cap of $94.83 billion, a price-to-earnings ratio of 66.20, a price-to-earnings-growth ratio of 1.31 and a beta of 1.61. The company’s 50-day simple moving average is $2,039.73 and its 200-day simple moving average is $1,837.90. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

Institutional Investors Weigh In On MercadoLibre

Several large investors have recently made changes to their positions in the company. Planning Capital Management Corp grew its holdings in shares of MercadoLibre by 9.1% in the 3rd quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock worth $123,000 after purchasing an additional 5 shares during the last quarter. Mount Lucas Management LP lifted its position in MercadoLibre by 3.6% during the 3rd quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock worth $293,000 after buying an additional 5 shares in the last quarter. Belpointe Asset Management LLC lifted its position in MercadoLibre by 1.0% during the 2nd quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock worth $1,016,000 after buying an additional 6 shares in the last quarter. Ameritas Investment Partners Inc. lifted its position in MercadoLibre by 0.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock worth $2,419,000 after buying an additional 6 shares in the last quarter. Finally, Evolutionary Tree Capital Management LLC lifted its position in MercadoLibre by 0.3% during the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock worth $3,403,000 after buying an additional 6 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Company Profile

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.