JPMorgan Chase & Co. Increases MercadoLibre (NASDAQ:MELI) Price Target to $2,150.00

Key Points

• JPMorgan raised MercadoLibre’s price target from $1,900 to $2,150 while maintaining a “neutral” rating, implying approximately 13.31% upside from the reported price.
• Analyst sentiment remains broadly positive: MercadoLibre has a consensus “Moderate Buy” rating and an average target price of $2,272, with 11 Buy ratings and six Holds.
• Recent quarterly results exceeded expectations, with EPS of $9.19 versus $8.65 expected and revenue of $10.17 billion. Revenue increased 49.8% year over year, while the stock rose 4% to $1,897.51.

MercadoLibre (NASDAQ:MELI - Get Free Report) had its price objective upped by equities researchers at JPMorgan Chase & Co. from $1,900.00 to $2,150.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 13.31% from the company's current price.

A number of other brokerages have also weighed in on MELI. Cantor Fitzgerald boosted their target price on MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Raymond James Financial set a $2,000.00 price objective on shares of MercadoLibre in a research report on Friday, May 8th. Daiwa Securities Group downgraded shares of MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 target price for the company. in a research report on Friday, May 8th. Finally, Zacks Research raised MercadoLibre from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $2,272.00.

MercadoLibre Stock Up 4.0%

MercadoLibre stock traded up $73.17 during mid-day trading on Tuesday, hitting $1,897.51. The company had a trading volume of 122,282 shares, compared to its average volume of 534,425. The stock's 50 day moving average price is $1,749.73 and its two-hundred day moving average price is $1,793.59. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $96.20 billion, a PE ratio of 51.51, a price-to-earnings-growth ratio of 1.13 and a beta of 1.34. MercadoLibre has a 12 month low of $1,495.00 and a 12 month high of $2,548.50.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $8.65 by $0.54. The company had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. MercadoLibre's revenue was up 49.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $10.31 EPS. As a group, sell-side analysts anticipate that MercadoLibre will post 40.69 earnings per share for the current fiscal year.

Insider Transactions at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin acquired 600 shares of the stock in a transaction on Friday, May 22nd. The stock was acquired at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the transaction, the director directly owned 5,355 shares of the company's stock, valued at $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is currently owned by insiders.

Institutional Trading of MercadoLibre

Hedge funds have recently made changes to their positions in the business. Darwin Wealth Management LLC bought a new stake in MercadoLibre during the second quarter worth approximately $29,000. Laurel Wealth Advisors LLC bought a new stake in shares of MercadoLibre in the 4th quarter valued at approximately $26,000. Transamerica Financial Advisors LLC bought a new stake in shares of MercadoLibre in the 4th quarter valued at approximately $26,000. Purpose Unlimited Inc. purchased a new position in shares of MercadoLibre in the 4th quarter worth approximately $28,000. Finally, Curio Wealth LLC bought a new position in shares of MercadoLibre during the 4th quarter valued at approximately $30,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.

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