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

MercadoLibre (NASDAQ:MELI) had its target price decreased by Barclays from $2,500.00 to $2,200.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 12.21% from the company’s previous close.

MELI has been the subject of a number of other research reports. Morgan Stanley lowered their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday. The Goldman Sachs Group boosted their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Raymond James began coverage on MercadoLibre in a research note on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price target on the stock. Finally, JPMorgan Chase & Co. downgraded MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 target price for the company. in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and an average target price of $2,286.33.

MercadoLibre Stock Down 0.0 %

NASDAQ:MELI traded down $0.58 during midday trading on Tuesday, reaching $1,960.58. 122,990 shares of the stock traded hands, compared to its average volume of 364,181. The stock has a market capitalization of $99.40 billion, a PE ratio of 69.40, a price-to-earnings-growth ratio of 1.15 and a beta of 1.61. MercadoLibre has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The business has a 50-day moving average of $2,044.44 and a two-hundred day moving average of $1,832.95.

Institutional Trading of MercadoLibre

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Migdal Insurance & Financial Holdings Ltd. grew its stake in MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after acquiring an additional 16 shares during the period. Optimum Investment Advisors boosted its holdings in MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after buying an additional 15 shares during the last quarter. Financial Connections Group Inc. purchased a new stake in MercadoLibre during the 2nd quarter worth approximately $36,000. Quarry LP acquired a new position in shares of MercadoLibre during the second quarter valued at approximately $43,000. Finally, Legacy Bridge LLC lifted its position in shares of MercadoLibre by 53.3% in the third quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after acquiring an additional 8 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

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.