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

MercadoLibre (NASDAQ:MELI) had its price objective decreased by investment analysts at JPMorgan Chase & Co. from $2,150.00 to $1,950.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 10.09% from the company’s previous close.

A number of other research analysts have also commented on MELI. Citigroup decreased their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Barclays decreased their price target on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Bank of America boosted their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Cantor Fitzgerald reduced their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Finally, Raymond James assumed coverage on shares of MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price target for the company. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,247.67.

MercadoLibre Price Performance

Shares of MELI stock opened at $1,771.22 on Wednesday. MercadoLibre has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The firm’s 50 day moving average is $1,889.35 and its 200-day moving average is $1,898.75. The firm has a market capitalization of $89.80 billion, a price-to-earnings ratio of 62.50, a PEG ratio of 1.24 and a beta of 1.60.

Insider Buying and Selling

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the sale, the director now directly owns 238 shares in the company, valued at $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MercadoLibre

Several institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio acquired a new stake in MercadoLibre during the 3rd quarter worth approximately $114,417,000. KBC Group NV lifted its position in MercadoLibre by 205.5% in the 3rd quarter. KBC Group NV now owns 26,279 shares of the company’s stock valued at $53,923,000 after acquiring an additional 17,677 shares in the last quarter. Principal Financial Group Inc. boosted its stake in MercadoLibre by 20.9% in the 3rd 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 period. Y Intercept Hong Kong Ltd increased its holdings in MercadoLibre by 40.0% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock worth $5,598,000 after purchasing an additional 780 shares in the last quarter. Finally, Caprock Group LLC raised its stake in shares of MercadoLibre by 143.7% in the 2nd quarter. Caprock Group LLC now owns 580 shares of the company’s stock valued at $955,000 after purchasing an additional 342 shares during the period. Institutional investors own 87.62% of the company’s stock.

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.