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

MercadoLibre (NASDAQ:MELI) had its price target cut by Citigroup from $2,480.00 to $2,450.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

MELI has been the topic of a number of other research reports. Bank of America upped their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. 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 note on Thursday, August 8th. Susquehanna boosted their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research note on Wednesday, August 28th. Redburn Atlantic began coverage on shares of MercadoLibre in a research note on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price for the company. Finally, Morgan Stanley lowered their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus target price of $2,267.67.

MercadoLibre Stock Up 0.5 %

Shares of NASDAQ MELI opened at $2,110.00 on Tuesday. The firm has a market cap of $106.97 billion, a price-to-earnings ratio of 74.45, a PEG ratio of 1.37 and a beta of 1.61. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. The business’s 50 day moving average is $2,025.78 and its two-hundred day moving average is $1,862.98.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of MercadoLibre by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 189,860 shares of the company’s stock valued at $287,061,000 after purchasing an additional 7,468 shares during the period. Dynasty Wealth Management LLC acquired a new stake in MercadoLibre during the 1st quarter worth about $259,000. B. Riley Wealth Advisors Inc. boosted its position in MercadoLibre by 2.2% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,022 shares of the company’s stock worth $1,545,000 after acquiring an additional 22 shares during the period. Comerica Bank boosted its position in MercadoLibre by 14.4% during the 1st quarter. Comerica Bank now owns 2,068 shares of the company’s stock worth $3,127,000 after acquiring an additional 260 shares during the period. Finally, Beacon Capital Management LLC boosted its position in MercadoLibre by 82.4% during the 1st quarter. Beacon Capital Management LLC now owns 62 shares of the company’s stock worth $94,000 after acquiring an additional 28 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

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.