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

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

MELI has been the subject of several other reports. Wedbush decreased 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, January 6th. Raymond James initiated coverage on MercadoLibre in a research report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective on the stock. BTIG Research decreased their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Morgan Stanley dropped their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Finally, Redburn Atlantic began coverage on shares of MercadoLibre in a research note on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price on the stock. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and a consensus target price of $2,247.67.

MercadoLibre Trading Up 1.1 %

NASDAQ MELI opened at $1,758.77 on Wednesday. The stock’s fifty day moving average price is $1,871.83 and its 200-day moving average price is $1,897.76. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The stock 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. MercadoLibre has a 12 month low of $1,324.99 and a 12 month high of $2,161.73.

Insider Activity at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is currently owned by corporate insiders.

Institutional Trading of MercadoLibre

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Optimum Investment Advisors grew its holdings 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 buying an additional 15 shares in the last quarter. Quarry LP purchased a new stake in MercadoLibre in the 2nd quarter worth $43,000. Legacy Bridge LLC boosted its holdings in shares of 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 grew its position in shares of MercadoLibre by 123.1% during the fourth quarter. GAMMA Investing LLC now owns 29 shares of the company’s stock valued at $49,000 after purchasing an additional 16 shares in the last quarter. Finally, NBC Securities Inc. increased its holdings in shares of MercadoLibre by 35.0% in the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after purchasing an additional 7 shares during the last quarter. Institutional investors 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.