MercadoLibre (NASDAQ:MELI) Stock Price Target Lowered at JPMorgan Chase & Co.

MercadoLibre (NASDAQ:MELI) had its price target dropped by equities researchers at JPMorgan Chase & Co. from $2,150.00 to $1,850.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 20.91% from the stock’s current price.

A number of other research firms have also recently commented on MELI. New Street Research began coverage on shares of MercadoLibre in a research note on Wednesday, September 23rd. They issued a “buy” rating and a $2,450.00 target price for the company. BTIG Research cut their price target on shares of MercadoLibre from $2,150.00 to $2,050.00 and set a “buy” rating on the stock in a research note on Thursday. Raymond James Financial reissued a “strong-buy” rating on shares of MercadoLibre in a research report on Thursday. Scotiabank reduced their target price on MercadoLibre from $2,800.00 to $2,300.00 and set a “sector outperform” rating for the company in a research note on Thursday. Finally, Susquehanna lifted their price target on MercadoLibre to $2,400.00 and gave the stock a “positive” rating in a research report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2,180.00.

MercadoLibre Stock Up 1.3%

NASDAQ MELI traded up $20.09 during trading on Monday, hitting $1,530.09. The company’s stock had a trading volume of 358,741 shares, compared to its average volume of 552,455. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The company has a market cap of $77.57 billion, a PE ratio of 41.09, a P/E/G ratio of 1.06 and a beta of 1.42. The business’s 50 day simple moving average is $1,808.01 and its 200-day simple moving average is $1,804.55. MercadoLibre has a fifty-two week low of $1,469.01 and a fifty-two week high of $2,342.00.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $8.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.27 by ($0.44). MercadoLibre had a net margin of 4.91% and a return on equity of 25.93%. The company had revenue of $10.75 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same quarter last year, the company earned $8.32 EPS. The business’s revenue was up 45.1% compared to the same quarter last year. On average, equities analysts anticipate that MercadoLibre will post 38.21 EPS for the current fiscal year.

Hedge Funds Weigh In On MercadoLibre

A number of institutional investors have recently bought and sold shares of the business. Wedbush Fund Advisers LLC acquired a new position in shares of MercadoLibre during the 2nd quarter worth $29,000. Twin Lakes Capital Management LLC acquired a new stake in shares of MercadoLibre in the second quarter valued at approximately $31,000. NBT Bank N.A. acquired a new position in shares of MercadoLibre during the 3rd quarter worth approximately $35,000. Markowski Investments acquired a new stake in MercadoLibre during the 2nd quarter valued at $36,000. Finally, Byrne Asset Management LLC purchased a new position in MercadoLibre during the third quarter worth $40,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Company Profile

MercadoLibre, Inc operates an online commerce and financial technology platform focused on Latin America. Founded in Argentina in 1999, the company connects buyers and sellers through its marketplace, where businesses and individuals can list and purchase a wide range of products.

The company’s services also include Mercado Pago, which offers digital payment and financial services for transactions on and off its marketplace. MercadoLibre supports commerce with services such as Mercado Envíos, its shipping and logistics platform, and provides advertising tools for merchants and brands.

MercadoLibre serves customers and businesses across numerous Latin American markets, including Brazil, Mexico and Argentina.