JPMorgan Chase & Co. Forecasts Strong Price Appreciation for MercadoLibre (NASDAQ:MELI) Stock

MercadoLibre (NASDAQ:MELI) had its price target raised by equities researchers at JPMorgan Chase & Co. from $1,950.00 to $2,300.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 4.66% from the stock’s current price.

MELI has been the subject of several other reports. Cantor Fitzgerald lifted their target price on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research report on Friday, February 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 report on Friday, February 21st. BTIG Research dropped their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Susquehanna lifted their target price on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research report on Friday, February 21st. Finally, Bank of America boosted their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $2,385.94.

MercadoLibre Stock Up 1.3 %

Shares of MELI opened at $2,197.64 on Tuesday. The firm has a market cap of $111.41 billion, a P/E ratio of 58.29, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. MercadoLibre has a 12-month low of $1,324.99 and a 12-month high of $2,374.54. The company’s 50-day moving average price is $1,892.64 and its 200 day moving average price is $1,964.15. 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 (NASDAQ:MELI) last released its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating the consensus estimate of $10.21 by $2.40. The company had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. On average, sell-side analysts forecast that MercadoLibre will post 43.96 earnings per share for the current year.

Insider Activity at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the transaction, the director now directly owns 238 shares of the company’s stock, valued at $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MercadoLibre

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MELI. Human Investing LLC purchased a new stake in MercadoLibre in the fourth quarter valued at approximately $26,000. Pacific Capital Wealth Advisors Inc. lifted its stake in MercadoLibre by 220.0% in the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 11 shares during the last quarter. Brown Lisle Cummings Inc. lifted its stake in MercadoLibre by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 8 shares during the last quarter. Covestor Ltd purchased a new stake in MercadoLibre in the fourth quarter valued at approximately $27,000. Finally, Heck Capital Advisors LLC purchased a new stake in MercadoLibre in the fourth quarter valued at approximately $32,000. Hedge funds and other 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.