Citigroup Lowers MercadoLibre (NASDAQ:MELI) Price Target to $2,450.00

MercadoLibre (NASDAQ:MELI) had its price objective lowered by Citigroup from $2,480.00 to $2,450.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the company. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. JPMorgan Chase & Co. dropped their price target on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Redburn Atlantic assumed coverage on MercadoLibre in a report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target for the company. Susquehanna raised their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. Finally, Raymond James assumed coverage on MercadoLibre in a report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price target for the company. Three 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. Based on data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average target price of $2,267.67.

MercadoLibre Trading Down 2.9 %

Shares of MELI opened at $1,985.17 on Tuesday. MercadoLibre has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The stock has a 50 day simple moving average of $2,020.96 and a 200-day simple moving average of $1,867.64. The stock has a market cap of $100.64 billion, a PE ratio of 70.05, a PEG ratio of 1.39 and a beta of 1.61.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MELI. International Assets Investment Management LLC boosted its position in shares of MercadoLibre by 205,108.3% in the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock worth $509,506,000 after purchasing an additional 248,181 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in shares of MercadoLibre in the 2nd quarter worth $2,913,000. FMR LLC boosted its position in shares of MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after purchasing an additional 137,564 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of MercadoLibre by 52.9% in the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after purchasing an additional 120,922 shares during the last quarter. Finally, Manning & Napier Advisors LLC bought a new position in shares of MercadoLibre in the 2nd quarter worth $121,137,000. 87.62% of the stock is currently owned by institutional investors.

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.