MercadoLibre (NASDAQ:MELI) Given New $1,950.00 Price Target at JPMorgan Chase & Co.

MercadoLibre (NASDAQ:MELI) had its price target cut by analysts at JPMorgan Chase & Co. from $2,150.00 to $1,950.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 12.13% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Wedbush decreased their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a report on Monday. Citigroup lowered their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. BTIG Research cut their price objective on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Cantor Fitzgerald decreased their target price on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Finally, Barclays reduced their price target on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and a consensus target price of $2,247.67.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $1,739.00 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $88.16 billion, a price-to-earnings ratio of 61.36, a price-to-earnings-growth ratio of 1.24 and a beta of 1.60. The firm has a 50 day moving average of $1,877.75 and a 200 day moving average of $1,896.53. MercadoLibre has a 52 week low of $1,324.99 and a 52 week high of $2,161.73.

Insider Buying and Selling

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the transaction, the director now owns 238 shares in the company, valued at $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Institutional Trading of MercadoLibre

Hedge funds and other institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio acquired a new position in MercadoLibre during the 3rd quarter worth $114,417,000. Principal Financial Group Inc. lifted its position in shares of MercadoLibre by 20.9% during the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock worth $121,948,000 after purchasing an additional 10,272 shares during the last quarter. KBC Group NV grew its stake in MercadoLibre by 205.5% in the third quarter. KBC Group NV now owns 26,279 shares of the company’s stock worth $53,923,000 after purchasing an additional 17,677 shares in the last quarter. Y Intercept Hong Kong Ltd increased its holdings in MercadoLibre by 40.0% in the third quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock valued at $5,598,000 after buying an additional 780 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in MercadoLibre by 37.8% during the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock valued at $271,897,000 after buying an additional 43,215 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

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.