MercadoLibre (NASDAQ:MELI) Given New $2,150.00 Price Target at JPMorgan Chase & Co.

MercadoLibre (NASDAQ:MELI) had its price objective increased by equities researchers at JPMorgan Chase & Co. from $1,900.00 to $2,150.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 13.31% from the stock’s current price.

MELI has been the topic of a number of other research reports. Daiwa Securities Group cut MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price on the stock. in a research note on Friday, May 8th. Weiss Ratings reissued a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Raymond James Financial set a $2,000.00 price objective on MercadoLibre in a report on Friday, May 8th. Morgan Stanley cut their price objective on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Finally, The Goldman Sachs Group set a $2,100.00 target price on MercadoLibre in a research note on Wednesday, May 13th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,272.00.

MercadoLibre Trading Up 4.0%

Shares of MELI stock traded up $73.17 during trading hours on Tuesday, reaching $1,897.51. 122,282 shares of the stock were exchanged, compared to its average volume of 534,425. The firm has a market capitalization of $96.20 billion, a price-to-earnings ratio of 51.51, a price-to-earnings-growth ratio of 1.13 and a beta of 1.34. MercadoLibre has a 12-month low of $1,495.00 and a 12-month high of $2,548.50. The company’s 50-day moving average price is $1,749.73 and its 200-day moving average price is $1,793.59. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The firm’s revenue for the quarter was up 49.8% on a year-over-year basis. During the same period in the prior year, the company posted $10.31 EPS. As a group, equities analysts anticipate that MercadoLibre will post 40.69 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the stock in a transaction on Friday, May 22nd. The stock was acquired at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the acquisition, the director owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by company insiders.

Institutional Trading of MercadoLibre

Several institutional investors and hedge funds have recently made changes to their positions in MELI. Capital Research Global Investors grew its holdings in MercadoLibre by 22.5% during the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after acquiring an additional 408,939 shares in the last quarter. Capital International Investors increased its position in MercadoLibre by 7.3% during the 4th quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock valued at $3,474,880,000 after purchasing an additional 118,018 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of MercadoLibre by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock valued at $3,188,718,000 after purchasing an additional 137,100 shares in the last quarter. BlackRock Inc. bought a new stake in shares of MercadoLibre in the 2nd quarter valued at about $2,246,015,000. Finally, Janus Henderson Group PLC lifted its position in shares of MercadoLibre by 1.7% in the 1st quarter. Janus Henderson Group PLC now owns 614,238 shares of the company’s stock worth $1,062,019,000 after purchasing an additional 10,142 shares during the period. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.