JPMorgan Chase & Co. Issues Pessimistic Forecast for MercadoLibre (NASDAQ:MELI) Stock Price

MercadoLibre (NASDAQ:MELI) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from $2,100.00 to $1,900.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 23.33% from the company’s previous close.

MELI has been the subject of several other reports. Wedbush reduced their price target on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Benchmark reduced their price target on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Zacks Research lowered MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 22nd. Daiwa Securities Group lowered MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target for the company. in a research report on Friday, May 8th. Finally, Itau BBA Securities reissued an “outperform” rating on shares of MercadoLibre in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and a consensus target price of $2,255.33.

MercadoLibre Stock Down 2.4%

Shares of MELI stock traded down $38.15 during mid-day trading on Wednesday, hitting $1,540.63. The stock had a trading volume of 496,451 shares, compared to its average volume of 573,129. MercadoLibre has a 12-month low of $1,495.00 and a 12-month high of $2,645.22. The firm has a market capitalization of $78.11 billion, a P/E ratio of 40.63, a price-to-earnings-growth ratio of 0.87 and a beta of 1.41. The firm’s 50-day moving average is $1,745.86 and its two-hundred day moving average is $1,956.27. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.15.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing the consensus estimate of $8.75 by ($0.52). The company had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The company’s revenue was up 49.0% on a year-over-year basis. During the same period in the previous year, the firm posted $9.74 earnings per share. On average, analysts predict that MercadoLibre will post 45.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Wilkinson Global Asset Management LLC boosted its holdings in MercadoLibre by 2.3% in the third quarter. Wilkinson Global Asset Management LLC now owns 226 shares of the company’s stock worth $528,000 after purchasing an additional 5 shares in the last quarter. Hardy Reed LLC boosted its holdings in MercadoLibre by 4.0% in the third quarter. Hardy Reed LLC now owns 131 shares of the company’s stock worth $306,000 after purchasing an additional 5 shares in the last quarter. Rothschild Investment LLC boosted its holdings in MercadoLibre by 35.7% in the third quarter. Rothschild Investment LLC now owns 19 shares of the company’s stock worth $44,000 after purchasing an additional 5 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC boosted its holdings in MercadoLibre by 2.0% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company’s stock worth $605,000 after purchasing an additional 5 shares in the last quarter. Finally, Interchange Capital Partners LLC boosted its holdings in MercadoLibre by 2.1% in the fourth quarter. Interchange Capital Partners LLC now owns 243 shares of the company’s stock worth $490,000 after purchasing an additional 5 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.