MercadoLibre (NASDAQ:MELI) Downgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of MercadoLibre (NASDAQ:MELI) from an overweight rating to a neutral rating in a report released on Wednesday morning, Marketbeat Ratings reports. The firm currently has $2,400.00 target price on the stock.

A number of other research analysts have also weighed in on the company. Susquehanna increased their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a positive rating in a report on Wednesday, August 28th. StockNews.com downgraded shares of MercadoLibre from a buy rating to a hold rating in a report on Saturday, August 10th. Barclays upped their price objective on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the company an overweight rating in a report on Tuesday, August 6th. Morgan Stanley increased their price objective on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an overweight rating in a research note on Friday, September 20th. Finally, The Goldman Sachs Group boosted their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a buy rating in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $2,246.07.

MercadoLibre Stock Up 0.0 %

NASDAQ:MELI opened at $1,960.00 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. MercadoLibre has a twelve month low of $1,141.04 and a twelve month high of $2,161.73. The company has a market cap of $99.37 billion, a PE ratio of 87.70, a P/E/G ratio of 1.34 and a beta of 1.61. The company’s 50 day moving average is $1,975.39 and its two-hundred day moving average is $1,728.02.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping the consensus estimate of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the previous year, the firm posted $5.16 earnings per share. The business’s revenue for the quarter was up 41.5% compared to the same quarter last year. Analysts anticipate that MercadoLibre will post 35.79 EPS for the current year.

Hedge Funds Weigh In On MercadoLibre

Large investors have recently added to or reduced their stakes in the stock. First PREMIER Bank purchased a new stake in shares of MercadoLibre during the first quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after buying an additional 16 shares during the last quarter. Scarborough Advisors LLC purchased a new stake in MercadoLibre during the 4th quarter worth approximately $36,000. Financial Connections Group Inc. acquired a new position in shares of MercadoLibre during the second quarter valued at approximately $36,000. Finally, Transcendent Capital Group LLC purchased a new position in shares of MercadoLibre in the fourth quarter valued at approximately $38,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

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.