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

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

Several other brokerages have also issued reports on MELI. Barclays dropped their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Redburn Atlantic assumed coverage on MercadoLibre in a research report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective on the stock. Bank of America lifted their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Citigroup reduced their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Finally, BTIG Research decreased their price objective on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Three research 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $2,247.67.

MercadoLibre Trading Up 1.1 %

Shares of MELI opened at $1,758.77 on Wednesday. The company’s fifty day simple moving average is $1,871.83 and its 200-day simple moving average is $1,897.76. The company has a market cap of $89.16 billion, a P/E ratio of 62.06, a P/E/G ratio of 1.24 and a beta of 1.60. 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 has a twelve month low of $1,324.99 and a twelve month high of $2,161.73.

Insider Buying and Selling at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On MercadoLibre

Several hedge funds and other institutional investors have recently modified their holdings of MELI. Optimum Investment Advisors increased its stake in MercadoLibre by 750.0% during the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares in the last quarter. Quarry LP acquired a new stake in MercadoLibre during the 2nd quarter worth 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 valued at $47,000 after purchasing an additional 8 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of MercadoLibre by 123.1% in the fourth quarter. GAMMA Investing LLC now owns 29 shares of the company’s stock worth $49,000 after purchasing an additional 16 shares during the last quarter. Finally, NBC Securities Inc. boosted its position 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.