In the analyst note released to clients by Piper Jaffray last October 15, MercadoLibre Inc. had its price target cut to $120.00. Piper Jaffray currently has an overweight rating on the stock.
MercadoLibre Inc. (NASDAQ:MELI) is currently trading 38.95% below its 52-week-high and 9.22% above its 52-week low. Over the past year the stock has traded between $85.75 and $153.42. The company has a price-to-earnings ratio of 46.83 against the Services sector average of 18.63. Its share price has underperformed the Nasdaq by 29.3%. MercadoLibre Inc., an E-Commerce & Products company, has a current valuation of $4.14 billion and at the end of the last trading session its share price was $93.66. The 50-day moving average is $100.39 and the 200-day moving average is $126.91.
MercadoLibre Inc.’s current short interest is 5.58 million shares. This has increased by 17% compared to the previous month. About 18% of the company’s shares are currently short sold. The 10-day average volume is 0.44 million shares, meaning that the number of days that would be required to cover the current short positions stands at 12.8 days.
The institutional sentiment increased to 1.07 in the second quarter of 2015, which is an increase of 0.13 from the first quarter’s 0.94. A total of 24 funds sold all of the Mercadolibre Inc. shares that they held, with 59 reduced positions. 26 funds bought new stakes, while 63 increased their positions.
There are currently thirteen analysts covering MercadoLibre Inc. stock. Of these, five analysts have a Buy rating, five analysts have a Hold rating and three analysts have a Sell rating. The broad consensus is a Hold rating, and the consensus target price is $116.09.