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

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

A number of other analysts have also recently commented on MELI. Citigroup lowered their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Redburn Atlantic began coverage on shares of MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target for the company. Wedbush cut their target price 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. BTIG Research decreased their price target on shares of 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. Finally, Raymond James assumed coverage on MercadoLibre in a research report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price on the stock. 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, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,247.67.

MercadoLibre Stock Down 1.8 %

MELI stock opened at $1,739.00 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The stock has a market capitalization of $88.16 billion, a PE ratio of 61.36, a price-to-earnings-growth ratio of 1.24 and a beta of 1.60. The firm has a 50 day moving average of $1,883.71 and a 200 day moving average of $1,897.64.

Insider Activity

In related news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 238 shares in the company, valued at approximately $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 SEC, which is accessible through the SEC website. Insiders own 0.06% of the company’s stock.

Institutional Trading of MercadoLibre

A number of institutional investors have recently bought and sold shares of MELI. Optimum Investment Advisors raised its position in shares of MercadoLibre by 750.0% during the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after acquiring an additional 15 shares in the last quarter. Quarry LP acquired a new stake in shares of MercadoLibre in the 2nd quarter valued at about $43,000. Legacy Bridge LLC grew its stake in MercadoLibre by 53.3% during the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock worth $47,000 after buying an additional 8 shares during the last quarter. GAMMA Investing LLC increased its position in MercadoLibre by 123.1% during the fourth quarter. GAMMA Investing LLC now owns 29 shares of the company’s stock worth $49,000 after buying an additional 16 shares during the period. Finally, NBC Securities Inc. lifted its stake in MercadoLibre by 35.0% in the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after buying an additional 7 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other 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.