MercadoLibre, Inc. has recently received a “Moderate Buy” rating from seventeen brokerages covering the firm. Out of the seventeen, two analysts rated the stock as hold, fourteen as buy, and one as a strong buy. The average 1-year target price for the stock is $2,269.67 based on reports from these brokerages.
Several research firms have provided insights on MELI. Bank of America increased their price target from $2,250.00 to $2,500.00 and reiterated a “buy” rating. On the other hand, BTIG Research lowered their price target from $2,250.00 to $2,200.00 and maintained a “buy” rating. JPMorgan Chase & Co. also adjusted their price target from $2,400.00 to $2,150.00, giving a “neutral” rating. StockNews.com downgraded MercadoLibre from a “buy” to a “hold” rating. The Goldman Sachs Group raised their price target to $2,480.00 with a “buy” rating.
In terms of institutional investors, there have been recent changes in their positions with MELI. Various hedge funds have increased their holdings in MercadoLibre, such as Migdal Insurance & Financial Holdings Ltd., Optimum Investment Advisors, Financial Connections Group Inc., Quarry LP, and Legacy Bridge LLC.
MercadoLibre’s stock saw a 1.9% increase, trading at $2,005.00 on Friday. The company’s market capitalization is $101.65 billion with a PE ratio of 70.75 and a beta of 1.61. The 1-year low for the stock is $1,324.99 and the high is $2,161.73. The company operates online commerce platforms, including Mercado Libre Marketplace and Mercado Pago FinTech platform.
While MercadoLibre has a “Moderate Buy” rating from analysts, there are other stocks that top analysts are recommending as better buys. MarketBeat has identified five such stocks that analysts are quietly suggesting to their clients. It’s essential for investors to consider all options before making investment decisions and to stay informed about market trends and recommendations.
Market downturns can be concerning for investors, but understanding how to mitigate risks, such as using beta to protect investments, is crucial. By staying informed and considering expert recommendations, investors can make well-informed decisions regarding their investment portfolios.
