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

MercadoLibre (NASDAQ:MELI) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from $2,400.00 to $2,150.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 15.05% from the company’s current price.

A number of other research analysts also recently weighed in on the company. BTIG Research lowered their target price 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. Barclays cut their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday. Wedbush restated an “outperform” rating and set a $2,200.00 price target (up previously from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. The Goldman Sachs Group raised their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, Citigroup raised their price objective on MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $2,269.67.

MercadoLibre Stock Down 0.4 %

Shares of MELI stock traded down $7.46 during mid-day trading on Wednesday, hitting $1,868.74. The company’s stock had a trading volume of 82,848 shares, compared to its average volume of 366,470. MercadoLibre has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. The business has a 50-day moving average price of $2,039.73 and a 200 day moving average price of $1,837.90. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The stock has a market cap of $94.75 billion, a price-to-earnings ratio of 66.20, a PEG ratio of 1.31 and a beta of 1.61.

Institutional Investors Weigh In On MercadoLibre

A number of institutional investors and hedge funds have recently bought and sold shares of MELI. GQG Partners LLC raised its position in MercadoLibre by 442.2% during the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after purchasing an additional 648,198 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of MercadoLibre by 205,108.3% in the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after acquiring an additional 248,181 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of MercadoLibre by 43.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after acquiring an additional 232,787 shares during the period. Strategic Financial Concepts LLC purchased a new position in shares of MercadoLibre in the 2nd quarter valued at $2,913,000. Finally, FMR LLC increased its holdings in shares of MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after acquiring an additional 137,564 shares during the period. 87.62% of the stock is owned by institutional investors.

About MercadoLibre

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.