MercadoLibre (NASDAQ:MELI) Shares Gap Down – What’s Next?

MercadoLibre, Inc. (NASDAQ:MELI)’s share price gapped down prior to trading on Friday . The stock had previously closed at $2,044.76, but opened at $1,984.98. MercadoLibre shares last traded at $1,957.74, with a volume of 106,193 shares.

Wall Street Analysts Forecast Growth

MELI has been the topic of several research analyst reports. BTIG Research lowered their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Wedbush reissued an “outperform” rating and set a $2,200.00 target price (up previously from $2,000.00) on shares of MercadoLibre in a research note on Thursday, November 7th. Susquehanna boosted 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. Finally, Morgan Stanley cut their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and an average price target of $2,267.67.

MercadoLibre Stock Performance

The stock’s 50-day moving average price is $2,023.33 and its 200 day moving average price is $1,865.50. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The company has a market cap of $100.58 billion, a P/E ratio of 72.15, a price-to-earnings-growth ratio of 1.39 and a beta of 1.61.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Raymond James & Associates increased its position in MercadoLibre by 4.8% in the 2nd quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock worth $57,256,000 after buying an additional 1,604 shares during the period. KBC Group NV increased its position in MercadoLibre by 205.5% during the third quarter. KBC Group NV now owns 26,279 shares of the company’s stock worth $53,923,000 after acquiring an additional 17,677 shares during the period. Caprock Group LLC raised its stake in MercadoLibre by 143.7% during the 2nd quarter. Caprock Group LLC now owns 580 shares of the company’s stock valued at $955,000 after purchasing an additional 342 shares during the last quarter. Sarasin & Partners LLP boosted its holdings in MercadoLibre by 168.5% in the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after purchasing an additional 28,494 shares during the period. Finally, Parnassus Investments LLC grew its position in MercadoLibre by 3.0% in the 3rd quarter. Parnassus Investments LLC now owns 14,903 shares of the company’s stock worth $30,580,000 after purchasing an additional 436 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.