MercadoLibre (NASDAQ:MELI) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

MercadoLibre (NASDAQ:MELI) had its target price lifted by research analysts at JPMorgan Chase & Co. from $2,600.00 to $2,650.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 14.93% from the company’s previous close.

A number of other research analysts also recently issued reports on MELI. Jefferies Financial Group reiterated a “hold” rating and issued a $2,800.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Scotiabank began coverage on MercadoLibre in a report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 target price on the stock. Raymond James Financial reissued a “strong-buy” rating and set a $2,750.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Wedbush boosted their price objective on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Finally, Citigroup reduced their price objective on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus target price of $2,822.35.

MercadoLibre Trading Down 0.5%

Shares of NASDAQ:MELI opened at $2,305.69 on Monday. MercadoLibre has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The business’s fifty day simple moving average is $2,306.76 and its 200-day simple moving average is $2,377.66. The company has a market capitalization of $116.89 billion, a PE ratio of 56.26, a P/E/G ratio of 1.56 and a beta of 1.46. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The company had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $7.19 billion. During the same quarter in the prior year, the business posted $7.83 earnings per share. The company’s revenue was up 39.5% compared to the same quarter last year. As a group, equities research analysts predict that MercadoLibre will post 43.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC lifted its stake in MercadoLibre by 45.3% during the third quarter. Ashton Thomas Private Wealth LLC now owns 449 shares of the company’s stock worth $1,049,000 after purchasing an additional 140 shares in the last quarter. Alta Capital Management LLC boosted its holdings in MercadoLibre by 23.5% in the third quarter. Alta Capital Management LLC now owns 18,803 shares of the company’s stock valued at $43,941,000 after purchasing an additional 3,583 shares during the period. Valley Brook Capital Group Inc. purchased a new position in MercadoLibre in the third quarter valued at $236,000. Premier Path Wealth Partners LLC boosted its stake in shares of MercadoLibre by 6.4% in the 3rd quarter. Premier Path Wealth Partners LLC now owns 316 shares of the company’s stock valued at $739,000 after buying an additional 19 shares during the period. Finally, Atala Financial Inc boosted its stake in shares of MercadoLibre by 59.6% in the 3rd quarter. Atala Financial Inc now owns 980 shares of the company’s stock valued at $2,290,000 after buying an additional 366 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

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.