MercadoLibre (NASDAQ:MELI) Given New $1,850.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan cut MercadoLibre’s price target to $1,850 from $2,150 and maintained a neutral rating; the new target implies 20.9% upside from the share price cited in the report.
• Analyst sentiment overall remains positive: MercadoLibre has a “Moderate Buy” consensus rating and an average price target of $2,180.
• In its latest quarter, earnings per share of $8.83 fell short of estimates, while revenue of $10.75 billion topped expectations and grew 45.1% year over year.

MercadoLibre (NASDAQ:MELI - Get Free Report) had its target price decreased by research analysts at JPMorgan Chase & Co. from $2,150.00 to $1,850.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 20.91% from the stock's current price.

A number of other research analysts have also recently commented on the stock. Weiss Ratings restated a "hold (c)" rating on shares of MercadoLibre in a report on Tuesday, September 29th. Susquehanna lifted their price objective on shares of MercadoLibre to $2,400.00 and gave the company a "positive" rating in a report on Tuesday, October 6th. New Street Research began coverage on shares of MercadoLibre in a research report on Wednesday, September 23rd. They issued a "buy" rating and a $2,450.00 price objective for the company. Zacks Research raised shares of MercadoLibre from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Finally, Scotiabank dropped their target price on shares of MercadoLibre from $2,800.00 to $2,300.00 and set a "sector outperform" rating on the stock in a research note on Thursday. 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. Based on data from MarketBeat, MercadoLibre currently has a consensus rating of "Moderate Buy" and an average price target of $2,180.00.

MercadoLibre Trading Up 1.3%

Shares of NASDAQ:MELI traded up $20.09 during trading hours on Monday, hitting $1,530.09. 358,741 shares of the company's stock traded hands, compared to its average volume of 552,455. The firm has a market capitalization of $77.57 billion, a P/E ratio of 41.09, a price-to-earnings-growth ratio of 1.06 and a beta of 1.42. The business has a fifty day moving average price of $1,808.01 and a 200-day moving average price of $1,804.55. MercadoLibre has a 1 year low of $1,469.01 and a 1 year high of $2,342.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $8.83 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $9.27 by ($0.44). The business had revenue of $10.75 billion for the quarter, compared to the consensus estimate of $10.69 billion. MercadoLibre had a return on equity of 25.93% and a net margin of 4.91%. MercadoLibre's revenue was up 45.1% on a year-over-year basis. During the same period in the prior year, the business posted $8.32 earnings per share. Equities analysts expect that MercadoLibre will post 38.21 earnings per share for the current year.

Institutional Investors Weigh In On MercadoLibre

Large investors have recently modified their holdings of the business. Wedbush Fund Advisers LLC bought a new position in shares of MercadoLibre during the 2nd quarter worth approximately $29,000. Twin Lakes Capital Management LLC acquired a new stake in MercadoLibre in the second quarter valued at approximately $31,000. NBT Bank N.A. purchased a new position in MercadoLibre in the third quarter worth $35,000. Markowski Investments purchased a new position in MercadoLibre in the second quarter worth $36,000. Finally, Byrne Asset Management LLC purchased a new position in MercadoLibre in the third quarter worth $40,000. Institutional investors own 87.62% of the company's stock.

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.

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