The MercadoLibre, Inc. (MELI) Stock Rating Reaffirmed by Piper Jaffray Companies, Report finds

The MercadoLibre, Inc. (MELI) Stock Rating Reaffirmed by Piper Jaffray Companies, Report finds

A number of other analysts also recently weighed in on the company. Bank of America Corporation upgraded MercadoLibre from a neutral rating to a buy rating and set a $210.00 target price for the company in a research report on Monday, January 30th. Zacks Investment Research upgraded MercadoLibre from a hold rating to a buy rating and set a $207.00 target price for the company in a research report on Wednesday, February 1st. Morgan Stanley reiterated an underweight rating and set a $147.00 target price on shares of MercadoLibre in a research report on Friday, October 28th. Cowen and Company set a $165.00 target price on MercadoLibre and gave the company a hold rating in a research report on Thursday, October 13th. Finally, Goldman Sachs Group, Inc. (The) upgraded MercadoLibre from a neutral rating to a buy rating and set a $200.00 target price for the company in a research report on Tuesday, December 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $178.40.

Piper Jaffray Companies reissued their overweight rating on shares of MercadoLibre, Inc. (NASDAQ:MELI) in a research note released on Tuesday. Piper Jaffray Companies currently has a $200.00 price objective on the stock.

MercadoLibre (NASDAQ:MELI) opened at 195.28 on Tuesday. The company has a 50-day moving average price of $177.27 and a 200 day moving average price of $170.63. MercadoLibre has a 12-month low of $92.95 and a 12-month high of $195.47. The company has a market cap of $8.62 billion, a PE ratio of 69.54 and a beta of 2.17.

Institutional investors have recently bought and sold shares of the company. Eqis Capital Management Inc. boosted its position in shares of MercadoLibre by 17.9% in the third quarter. Eqis Capital Management Inc. now owns 4,273 shares of the company’s stock worth $790,000 after buying an additional 650 shares during the last quarter. Macquarie Group Ltd. boosted its position in shares of MercadoLibre by 70.9% in the second quarter. Macquarie Group Ltd. now owns 21,019 shares of the company’s stock worth $2,957,000 after buying an additional 8,719 shares during the last quarter. IFP Advisors Inc boosted its position in shares of MercadoLibre by 8.8% in the second quarter. IFP Advisors Inc now owns 765 shares of the company’s stock worth $108,000 after buying an additional 62 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of MercadoLibre by 22.0% in the second quarter. Public Employees Retirement System of Ohio now owns 102,277 shares of the company’s stock worth $14,387,000 after buying an additional 18,411 shares during the last quarter. Finally, Perigon Wealth Management LLC boosted its position in shares of MercadoLibre by 6.8% in the second quarter. Perigon Wealth Management LLC now owns 4,444 shares of the company’s stock worth $626,000 after buying an additional 282 shares during the last quarter. 76.61% of the stock is owned by institutional investors.

MercadoLibre Company Profile

MercadoLibre, Inc (MercadoLibre) hosts an online commerce platform in Latin America, which is focused on enabling e-commerce and its related services. The Company provides a portfolio of services facilitating e-commerce transactions. Its geographic segments are Brazil, Argentina, Mexico, Venezuela and other countries (including Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Portugal, Guatemala, Bolivia, Paraguay, Uruguay and the United States of America.

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