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

MercadoLibre (NASDAQ:MELI) had its price target reduced by JPMorgan Chase & Co. from $2,150.00 to $1,950.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities research analysts have also recently weighed in on the company. BTIG Research reduced their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Raymond James started coverage on shares of MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price target for the company. Cantor Fitzgerald dropped their price objective 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. Bank of America raised their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Finally, Citigroup dropped their price target 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. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,247.67.

MercadoLibre Price Performance

MELI stock opened at $1,739.00 on Wednesday. The stock has a market capitalization of $88.16 billion, a price-to-earnings ratio of 61.36, a PEG ratio of 1.24 and a beta of 1.60. The firm’s 50-day moving average price is $1,883.71 and its two-hundred day moving average price is $1,897.64. 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 has a 12-month low of $1,324.99 and a 12-month high of $2,161.73.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the transaction, the director now owns 238 shares of the company’s stock, valued at $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Planning Capital Management Corp boosted its stake in shares of MercadoLibre by 9.1% during the third quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock valued at $123,000 after purchasing an additional 5 shares in the last quarter. Mount Lucas Management LP increased its holdings in shares of MercadoLibre by 3.6% in the 3rd quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock valued at $293,000 after acquiring an additional 5 shares during the period. Ameritas Investment Partners Inc. raised its position in shares of MercadoLibre by 0.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock worth $2,419,000 after acquiring an additional 6 shares in the last quarter. Evolutionary Tree Capital Management LLC lifted its stake in shares of MercadoLibre by 0.3% during the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock worth $3,403,000 after purchasing an additional 6 shares during the last quarter. Finally, Strategic Blueprint LLC boosted its position in MercadoLibre by 0.9% during the third quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock valued at $1,350,000 after purchasing an additional 6 shares in the last quarter. 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.