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

MercadoLibre (NASDAQ:MELI) had its price objective lowered by equities research analysts at JPMorgan Chase & Co. from $2,400.00 to $2,150.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 15.05% from the company’s current price.

Other research analysts also recently issued reports about the company. Morgan Stanley dropped their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday. BTIG Research dropped their target price 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. Barclays lowered their price target on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday. Citigroup lifted their price target on MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $2,200.00 price target (up previously from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned 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 $2,269.67.

MercadoLibre Stock Down 0.4 %

MELI stock traded down $7.46 on Wednesday, hitting $1,868.74. 82,848 shares of the company’s stock were exchanged, compared to its average volume of 366,470. MercadoLibre has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The firm has a 50 day moving average price of $2,039.73 and a two-hundred day moving average price of $1,837.90. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The stock has a market cap of $94.75 billion, a P/E ratio of 66.20, a price-to-earnings-growth ratio of 1.31 and a beta of 1.61.

Institutional Investors Weigh In On MercadoLibre

Several large investors have recently bought and sold shares of MELI. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in MercadoLibre by 20.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock worth $41,794,000 after buying an additional 4,658 shares in the last quarter. SageView Advisory Group LLC purchased a new stake in MercadoLibre during the 1st quarter worth approximately $661,000. Kingsview Wealth Management LLC grew its position in shares of MercadoLibre by 5.2% in the first quarter. Kingsview Wealth Management LLC now owns 365 shares of the company’s stock valued at $552,000 after purchasing an additional 18 shares in the last quarter. Blair William & Co. IL grew its position in shares of MercadoLibre by 3.5% in the first quarter. Blair William & Co. IL now owns 2,054 shares of the company’s stock valued at $3,106,000 after purchasing an additional 70 shares in the last quarter. Finally, Orion Portfolio Solutions LLC grew its position in shares of MercadoLibre by 56.2% in the first quarter. Orion Portfolio Solutions LLC now owns 764 shares of the company’s stock valued at $1,155,000 after purchasing an additional 275 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

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.