Bank of America Raises MercadoLibre (NASDAQ:MELI) Price Target to $3,000.00

MercadoLibre (NASDAQ:MELI) had its price target lifted by Bank of America from $2,500.00 to $3,000.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective points to a potential upside of 42.15% from the company’s current price.

Several other analysts have also recently issued reports on MELI. Citigroup cut their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. 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 report on Monday, January 6th. 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 research report on Monday, November 11th. Barclays dropped their price target on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Finally, Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a research report on Tuesday, January 21st. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Buy” and an average target price of $2,294.69.

MercadoLibre Trading Up 1.7 %

Shares of MELI opened at $2,110.47 on Friday. The company has a market capitalization of $107.00 billion, a P/E ratio of 74.47, a P/E/G ratio of 1.10 and a beta of 1.62. MercadoLibre has a one year low of $1,324.99 and a one year high of $2,161.73. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The stock has a 50-day moving average price of $1,858.57 and a 200 day moving average price of $1,952.94.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a return on equity of 40.71% and a net margin of 7.57%. Sell-side analysts forecast that MercadoLibre will post 32.98 EPS for the current fiscal year.

Insider Transactions at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the completion of the sale, the director now directly owns 238 shares in the company, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is currently owned by insiders.

Institutional Trading of MercadoLibre

Several hedge funds and other institutional investors have recently modified their holdings of MELI. Human Investing LLC purchased a new stake in shares of MercadoLibre during the fourth quarter worth $26,000. Pacific Capital Wealth Advisors Inc. raised its holdings in MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. raised its holdings in MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 8 shares in the last quarter. Covestor Ltd bought a new position in MercadoLibre during the fourth quarter valued at about $27,000. Finally, Heck Capital Advisors LLC bought a new position in MercadoLibre during the fourth quarter valued at about $32,000. 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.