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

MercadoLibre (NASDAQ:MELI) had its price target reduced by Morgan Stanley from $2,500.00 to $2,450.00 in a report issued on Monday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Other equities research analysts have also recently issued reports about the company. Citigroup increased their price objective on MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Susquehanna increased their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. Raymond James started coverage on shares of MercadoLibre in a report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating and set a $2,200.00 price objective (up previously from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. Finally, Barclays lifted their target price on MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,269.67.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,930.95 on Monday. The firm has a market capitalization of $97.90 billion, a PE ratio of 68.14, a PEG ratio of 1.34 and a beta of 1.61. 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 firm’s fifty day simple moving average is $2,044.19 and its 200 day simple moving average is $1,836.97.

Institutional Investors Weigh In On MercadoLibre

Several large investors have recently made changes to their positions in MELI. Planning Capital Management Corp boosted its position in MercadoLibre by 9.1% in the third quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock valued at $123,000 after buying an additional 5 shares in the last quarter. Mount Lucas Management LP boosted its holdings in shares of MercadoLibre by 3.6% in the 3rd quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock worth $293,000 after acquiring an additional 5 shares in the last quarter. Belpointe Asset Management LLC grew its position in MercadoLibre by 1.0% during the 2nd quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock worth $1,016,000 after acquiring an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in MercadoLibre by 0.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock valued at $2,419,000 after purchasing an additional 6 shares in the last quarter. Finally, Evolutionary Tree Capital Management LLC raised its position in MercadoLibre by 0.3% in the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock valued at $3,403,000 after purchasing an additional 6 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

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.