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

MercadoLibre (NASDAQ:MELI - Get Free Report) had its price objective raised by investment analysts at JPMorgan Chase & Co. from $1,950.00 to $2,300.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 3.45% from the stock's current price.

Several other brokerages also recently weighed in on MELI. Wedbush decreased their target price on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating for the company in a research note on Monday, January 6th. Morgan Stanley decreased their price objective on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating for the company in a research report on Monday, November 11th. Barclays lifted their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a research report on Friday. Bank of America increased their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a report on Friday. Finally, Raymond James upgraded MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price objective on the stock in a report on Tuesday, January 21st. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, MercadoLibre has an average rating of "Buy" and a consensus price target of $2,385.94.

MercadoLibre Stock Down 1.6 %

Shares of NASDAQ MELI opened at $2,223.35 on Tuesday. The stock has a fifty day moving average price of $1,875.83 and a 200 day moving average price of $1,960.50. The company has a market cap of $112.72 billion, a P/E ratio of 58.97, a P/E/G ratio of 1.12 and a beta of 1.62. MercadoLibre has a 12-month low of $1,324.99 and a 12-month high of $2,374.54. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating the consensus estimate of $10.21 by $2.40. The business had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. Research analysts anticipate that MercadoLibre will post 43.96 EPS for the current fiscal year.

Insider Buying and Selling

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the firm's stock in a transaction on 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 sale, the director now directly owns 238 shares in the company, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.06% of the stock is owned by company insiders.

Institutional Trading of MercadoLibre

A number of large investors have recently modified their holdings of MELI. Capital International Investors grew its position in MercadoLibre by 38.7% in the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company's stock worth $2,868,869,000 after purchasing an additional 470,829 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in MercadoLibre by 41.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock worth $2,370,848,000 after buying an additional 405,425 shares in the last quarter. Wealthfront Advisers LLC acquired a new stake in MercadoLibre in the 4th quarter valued at approximately $565,306,000. Capital World Investors raised its stake in MercadoLibre by 24.5% during the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company's stock valued at $2,667,386,000 after acquiring an additional 308,973 shares in the last quarter. Finally, Norges Bank acquired a new position in MercadoLibre during the 4th quarter worth $383,051,000. Institutional investors and hedge funds own 87.62% of the company's stock.

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.

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