UBS Group set a $730.00 price target on Mercadolibre (NASDAQ:MELI) in a research note issued to investors on Wednesday morning, Briefing.com Automated Import reports. The firm currently has a buy rating on the stock.
MELI has been the subject of several other research reports. Bank of America restated a buy rating and issued a $600.00 target price on shares of Mercadolibre in a research note on Wednesday, April 3rd. Barclays reiterated a buy rating and issued a $445.00 price objective on shares of Mercadolibre in a research note on Thursday, February 28th. BidaskClub cut shares of Mercadolibre from a strong-buy rating to a buy rating in a research note on Friday, April 19th. BTIG Research raised their price objective on shares of Mercadolibre to $535.00 and gave the company a buy rating in a research note on Wednesday, March 13th. Finally, Susquehanna Bancshares reiterated a negative rating and issued a $340.00 price objective on shares of Mercadolibre in a research note on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. Mercadolibre presently has a consensus rating of Hold and a consensus price target of $516.50.
MELI stock opened at $611.77 on Wednesday. Mercadolibre has a one year low of $257.52 and a one year high of $672.55. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.34. The stock has a fifty day moving average price of $593.90.
Several hedge funds and other institutional investors have recently modified their holdings of MELI. Norges Bank purchased a new stake in shares of Mercadolibre during the fourth quarter worth about $110,161,000. FMR LLC grew its holdings in shares of Mercadolibre by 24.8% during the first quarter. FMR LLC now owns 1,270,693 shares of the company’s stock worth $645,170,000 after buying an additional 252,698 shares in the last quarter. RWC Asset Advisors US LLC purchased a new stake in shares of Mercadolibre during the fourth quarter worth about $46,149,000. 1832 Asset Management L.P. purchased a new stake in shares of Mercadolibre during the fourth quarter worth about $38,915,000. Finally, Baillie Gifford & Co. grew its holdings in shares of Mercadolibre by 2.3% during the fourth quarter. Baillie Gifford & Co. now owns 5,208,620 shares of the company’s stock worth $1,525,344,000 after buying an additional 117,948 shares in the last quarter. Institutional investors and hedge funds own 84.67% of the company’s stock.
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.
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