MercadoLibre (NASDAQ:MELI) Stock Rating Lowered by JPMorgan Chase & Co.

MercadoLibre (NASDAQ:MELI) was downgraded by equities research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. They currently have a $2,400.00 price objective on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 22.50% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Raymond James assumed coverage on MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price objective for the company. Citigroup boosted their price target on MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. The Goldman Sachs Group raised their price objective on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Finally, Susquehanna raised 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. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,246.07.

MercadoLibre Trading Down 0.6 %

NASDAQ:MELI opened at $1,959.20 on Wednesday. The stock has a market cap of $99.33 billion, a PE ratio of 87.66, a price-to-earnings-growth ratio of 1.34 and a beta of 1.61. MercadoLibre has a fifty-two week low of $1,141.04 and a fifty-two week high of $2,161.73. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. The stock’s 50-day moving average is $1,969.22 and its two-hundred day moving average is $1,723.44.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The firm had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the previous year, the firm posted $5.16 earnings per share. The firm’s revenue was up 41.5% on a year-over-year basis. As a group, equities research analysts forecast that MercadoLibre will post 35.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MercadoLibre

Large investors have recently bought and sold shares of the stock. First PREMIER Bank bought a new position in shares of MercadoLibre during the 1st quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. grew its position in MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after buying an additional 16 shares in the last quarter. Scarborough Advisors LLC bought a new position in MercadoLibre during the fourth quarter valued at about $36,000. Financial Connections Group Inc. acquired a new position in MercadoLibre in the 2nd quarter valued at approximately $36,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of MercadoLibre in the 4th quarter worth approximately $38,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

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.