JPMorgan Chase & Co. Has Lowered Expectations for MercadoLibre (NASDAQ:MELI) Stock Price

MercadoLibre (NASDAQ:MELI) had its price objective lowered by JPMorgan Chase & Co. from $2,400.00 to $2,150.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities research analysts also recently issued reports about the company. Wedbush reaffirmed an “outperform” rating and set a $2,200.00 price target (up from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. Redburn Atlantic started coverage on shares of MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price on the stock. Barclays cut their price target on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Citigroup increased their target price on MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, BTIG Research dropped their price objective on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Three 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,269.67.

MercadoLibre Stock Up 0.2 %

MELI opened at $1,880.00 on Wednesday. MercadoLibre has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The business has a 50 day moving average price of $2,037.61 and a two-hundred day moving average price of $1,843.64. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The company has a market cap of $95.32 billion, a PE ratio of 66.34, a P/E/G ratio of 1.27 and a beta of 1.61.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MELI. Prestige Wealth Management Group LLC grew its holdings in shares of MercadoLibre by 2,333.3% during the third quarter. Prestige Wealth Management Group LLC now owns 73 shares of the company’s stock worth $150,000 after buying an additional 70 shares in the last quarter. Vestcor Inc boosted its position in MercadoLibre by 26.9% during the third quarter. Vestcor Inc now owns 2,045 shares of the company’s stock worth $4,196,000 after acquiring an additional 433 shares during the last quarter. Adalta Capital Management LLC grew its stake in MercadoLibre by 5.7% in the 3rd quarter. Adalta Capital Management LLC now owns 1,701 shares of the company’s stock worth $3,490,000 after acquiring an additional 92 shares during the period. LRI Investments LLC raised its holdings in MercadoLibre by 28.1% in the 3rd quarter. LRI Investments LLC now owns 515 shares of the company’s stock valued at $966,000 after acquiring an additional 113 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of MercadoLibre during the 3rd quarter worth $114,417,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

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.