MercadoLibre (NASDAQ:MELI) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

MercadoLibre (NASDAQ:MELI) had its target price decreased by JPMorgan Chase & Co. from $2,150.00 to $1,850.00 in a research report report published on Monday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other analysts also recently commented on MELI. Susquehanna boosted their target price on shares of MercadoLibre to $2,400.00 and gave the stock a “positive” rating in a research report on Tuesday, October 6th. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Raymond James Financial reissued a “strong-buy” rating on shares of MercadoLibre in a research note on Thursday, November 5th. Cantor Fitzgerald reduced their target price on MercadoLibre from $2,200.00 to $2,000.00 and set an “overweight” rating on the stock in a report on Thursday, November 5th. Finally, BTIG Research dropped their price objective on shares of MercadoLibre from $2,150.00 to $2,050.00 and set a “buy” rating on the stock in a report on Thursday, November 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $2,170.62.

MercadoLibre Price Performance

Shares of MELI opened at $1,512.02 on Monday. The stock’s fifty day moving average is $1,781.38 and its 200-day moving average is $1,795.48. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.17. The firm has a market capitalization of $76.66 billion, a price-to-earnings ratio of 39.97, a price-to-earnings-growth ratio of 1.07 and a beta of 1.42. MercadoLibre has a one year low of $1,465.06 and a one year high of $2,342.00.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $8.83 EPS for the quarter, missing the consensus estimate of $9.27 by ($0.44). The business had revenue of $10.75 billion during the quarter, compared to the consensus estimate of $10.69 billion. MercadoLibre had a return on equity of 25.15% and a net margin of 4.91%. MercadoLibre’s revenue was up 45.1% compared to the same quarter last year. During the same quarter last year, the firm posted $8.32 earnings per share. Equities analysts anticipate that MercadoLibre will post 37.44 EPS for the current year.

Institutional Trading of MercadoLibre

Several institutional investors have recently modified their holdings of MELI. Wedbush Fund Advisers LLC bought a new stake in MercadoLibre in the 2nd quarter valued at about $29,000. Twin Lakes Capital Management LLC bought a new position in shares of MercadoLibre during the 2nd quarter worth 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 shares of MercadoLibre in the 2nd quarter worth about $36,000. Finally, Byrne Asset Management LLC purchased a new position in shares of MercadoLibre in the 3rd quarter worth about $40,000. Institutional investors own 87.62% of the company’s stock.

Recent MercadoLibre Headlines

Investors following MELI have been watching these headlines:

• Positive Sentiment: MercadoLibre continues to show strong commerce and fintech growth. Third-quarter revenue rose 45% year over year to $10.75 billion, supporting the longer-term growth case. Article: MercadoLibre Declines 11.9% Since Q3 Earnings
• Negative Sentiment: Profitability concerns are weighing on sentiment: Q3 EPS of $8.83 missed the $9.27 consensus, and heavy investment spending and margin pressure have overshadowed revenue growth. Article: MercadoLibre Declines 11.9% Since Q3 Earnings
• Negative Sentiment: UBS cut its price target from $1,750 to $1,600 and assigned a neutral rating, signaling reduced confidence in near-term upside. UBS Group recommendations JPMorgan also cut its target, adding to analyst caution. Article: JPMorgan Cuts MercadoLibre Price Target

About MercadoLibre

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.