MercadoLibre (NASDAQ:MELI) Price Target Raised to $2,300.00

MercadoLibre (NASDAQ:MELI) had its price target upped by stock analysts at JPMorgan Chase & Co. from $1,950.00 to $2,300.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 3.45% from the company’s current price.

MELI has been the subject of a number of other research reports. Cantor Fitzgerald raised their price objective on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research note on Friday. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective for the company in a research note on Tuesday, January 21st. Barclays lifted their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday. Wedbush decreased their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a report on Monday, January 6th. Finally, Citigroup dropped their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $2,385.94.

MercadoLibre Price Performance

NASDAQ MELI opened at $2,223.35 on Tuesday. The firm has a market capitalization of $112.72 billion, a PE ratio of 58.97, a P/E/G ratio of 1.12 and a beta of 1.62. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre has a 12 month low of $1,324.99 and a 12 month high of $2,374.54. The company’s 50 day simple moving average is $1,875.83 and its 200 day simple moving average is $1,960.50.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. As a group, equities research analysts forecast that MercadoLibre will post 43.96 EPS for the current fiscal year.

Insider Transactions at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MercadoLibre

Hedge funds have recently bought and sold shares of the company. Swedbank AB boosted its stake in MercadoLibre by 352.8% during the 3rd quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after purchasing an additional 73,336 shares during the period. Allworth Financial LP lifted its holdings in shares of MercadoLibre by 21.1% during the third quarter. Allworth Financial LP now owns 339 shares of the company’s stock worth $696,000 after buying an additional 59 shares during the last quarter. PFG Investments LLC boosted its position in shares of MercadoLibre by 75.9% in the third quarter. PFG Investments LLC now owns 329 shares of the company’s stock valued at $675,000 after acquiring an additional 142 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in MercadoLibre by 62.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,187 shares of the company’s stock worth $8,592,000 after acquiring an additional 1,605 shares during the period. Finally, Modera Wealth Management LLC acquired a new position in MercadoLibre during the 3rd quarter valued at $255,000. 87.62% of the stock is currently owned by institutional investors.

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.