MercadoLibre (NASDAQ:MELI) had its price target reduced by equities research analysts at Credit Suisse Group from $2,200.00 to $1,675.00 in a research note issued on Tuesday, The Fly reports. Credit Suisse Group’s price target suggests a potential upside of 78.71% from the company’s previous close.
A number of other research firms have also recently weighed in on MELI. Jefferies Financial Group cut MercadoLibre from a “buy” rating to a “hold” rating and reduced their price target for the stock from $2,000.00 to $1,250.00 in a report on Friday, January 7th. Zacks Investment Research lowered MercadoLibre from a “strong-buy” rating to a “hold” rating and set a $1,814.00 target price on the stock. in a research report on Friday, November 12th. BTIG Research cut their price target on shares of MercadoLibre from $1,930.00 to $1,550.00 in a report on Tuesday, January 18th. Scotiabank raised shares of MercadoLibre from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $2,050.00 to $2,100.00 in a report on Monday, October 25th. Finally, Stifel Nicolaus cut their target price on shares of MercadoLibre from $2,200.00 to $1,600.00 in a research note on Wednesday, January 12th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $1,843.25.
Shares of MercadoLibre stock opened at $937.26 on Tuesday. The firm has a 50-day simple moving average of $1,136.36 and a two-hundred day simple moving average of $1,445.69. The company has a debt-to-equity ratio of 16.02, a quick ratio of 1.18 and a current ratio of 1.23. MercadoLibre has a fifty-two week low of $936.01 and a fifty-two week high of $1,970.13. The company has a market cap of $46.36 billion, a P/E ratio of 589.48 and a beta of 1.54.
Hedge funds have recently bought and sold shares of the company. Total Clarity Wealth Management Inc. acquired a new position in MercadoLibre during the third quarter worth $34,000. Future Financial Wealth Managment LLC purchased a new position in shares of MercadoLibre during the 4th quarter worth $27,000. Ahrens Investment Partners LLC acquired a new position in shares of MercadoLibre during the 4th quarter valued at about $27,000. Retirement Planning Co of New England Inc. purchased a new stake in shares of MercadoLibre in the fourth quarter valued at about $26,000. Finally, Masso Torrence Wealth Management Inc. acquired a new stake in MercadoLibre during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 77.18% of the company’s stock.
MercadoLibre Company Profile
MercadoLibre, Inc engages in the provision of online commerce platform with focus on e-commerce and its related services. It operates through the following geographical segments: Brazil, Argentina, Mexico, Venezuela, and Other Countries. The firm provides users a mechanism for buying, selling and paying as well as collecting, generating leads, and comparing lists through e-commerce transactions.