StockNews.com Upgrades MercadoLibre (NASDAQ:MELI) to Buy

MercadoLibre (NASDAQ:MELIGet Free Report) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Other equities analysts have also issued research reports about the company. Susquehanna raised their target price on MercadoLibre from $1,625.00 to $1,850.00 and gave the stock a “positive” rating in a research note on Tuesday, November 28th. Citigroup increased their price target on MercadoLibre from $1,550.00 to $1,900.00 and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Wedbush increased their price target on MercadoLibre from $1,700.00 to $1,800.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 27th. Finally, Bank of America raised MercadoLibre from a “neutral” rating to a “buy” rating and set a $2,000.00 price target on the stock in a research report on Monday, November 27th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,752.50.

View Our Latest Stock Report on MELI

MercadoLibre Stock Performance

Shares of MELI opened at $1,742.26 on Friday. MercadoLibre has a 12 month low of $1,063.02 and a 12 month high of $1,800.09. The stock has a fifty day moving average price of $1,643.29 and a 200-day moving average price of $1,436.32. The company has a current ratio of 1.27, a quick ratio of 1.24 and a debt-to-equity ratio of 0.80. The firm has a market cap of $88.09 billion, a PE ratio of 89.16, a P/E/G ratio of 1.16 and a beta of 1.52.

Institutional Investors Weigh In On MercadoLibre

Several institutional investors have recently bought and sold shares of the company. Morgan Stanley boosted its holdings in MercadoLibre by 10.2% in the 3rd quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock worth $3,243,832,000 after buying an additional 236,744 shares during the last quarter. Jennison Associates LLC lifted its stake in MercadoLibre by 1.3% in the 3rd quarter. Jennison Associates LLC now owns 2,233,430 shares of the company’s stock worth $2,831,721,000 after purchasing an additional 28,095 shares in the last quarter. WCM Investment Management LLC lifted its stake in MercadoLibre by 74.8% in the 4th quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock worth $1,838,964,000 after purchasing an additional 497,535 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in MercadoLibre by 30.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 474,855 shares of the company’s stock worth $401,841,000 after purchasing an additional 111,751 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its stake in MercadoLibre by 6.1% in the 3rd quarter. William Blair Investment Management LLC now owns 411,310 shares of the company’s stock worth $521,492,000 after purchasing an additional 23,699 shares in the last quarter. 80.01% of the stock is currently owned by institutional investors and hedge funds.

About MercadoLibre

(Get Free Report)

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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.

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Analyst Recommendations for MercadoLibre (NASDAQ:MELI)

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