JPMorgan Chase & Co. Raises Mercadolibre (MELI) Price Target to $515.00

Mercadolibre (NASDAQ:MELI) had its price objective increased by JPMorgan Chase & Co. from $430.00 to $515.00 in a report released on Monday morning, The Fly reports. They currently have an overweight rating on the stock.

Several other equities analysts have also weighed in on the stock. Susquehanna Bancshares reaffirmed a negative rating and set a $340.00 target price on shares of Mercadolibre in a report on Friday, March 8th. BidaskClub raised shares of Mercadolibre from a buy rating to a strong-buy rating in a report on Wednesday, March 6th. Barclays reaffirmed a buy rating and set a $445.00 target price on shares of Mercadolibre in a report on Thursday, February 28th. ValuEngine raised shares of Mercadolibre from a buy rating to a strong-buy rating in a report on Thursday, February 28th. Finally, Bank of America lifted their target price on shares of Mercadolibre from $400.00 to $450.00 and gave the company a buy rating in a report on Wednesday, February 27th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $423.17.

Shares of NASDAQ MELI opened at $493.79 on Monday. The company has a quick ratio of 1.29, a current ratio of 1.30 and a debt-to-equity ratio of 1.79. Mercadolibre has a 12 month low of $257.52 and a 12 month high of $514.90. The company has a market cap of $22.77 billion, a price-to-earnings ratio of -602.18, a price-to-earnings-growth ratio of 23.78 and a beta of 2.21.



Mercadolibre (NASDAQ:MELI) last announced its quarterly earnings data on Tuesday, February 26th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.10. The business had revenue of $428.00 million during the quarter, compared to analysts’ expectations of $400.80 million. Mercadolibre had a negative net margin of 2.54% and a negative return on equity of 13.47%. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.53) EPS. As a group, equities research analysts forecast that Mercadolibre will post 0.41 earnings per share for the current year.

Large investors have recently bought and sold shares of the company. Csenge Advisory Group purchased a new stake in Mercadolibre in the 3rd quarter worth $42,000. We Are One Seven LLC purchased a new stake in Mercadolibre in the 4th quarter worth $51,000. Larson Financial Group LLC purchased a new stake in Mercadolibre in the 4th quarter worth $59,000. Bogart Wealth LLC increased its holdings in Mercadolibre by 15.8% in the 4th quarter. Bogart Wealth LLC now owns 374 shares of the company’s stock worth $109,000 after acquiring an additional 51 shares in the last quarter. Finally, Executive Wealth Management LLC purchased a new stake in Mercadolibre in the 4th quarter worth $112,000. 90.56% of the stock is owned by hedge funds and other institutional investors.

About Mercadolibre

MercadoLibre, Inc hosts online commerce platforms in Latin America. It offers MercadoLibre Marketplace, an automated online commerce service for businesses and individuals to list items and conduct their sales and purchases online in a fixed-price or auction-based format. The company's Marketplace platform enables commerce through online classifieds for motor vehicles, vessels, aircraft, services, and real estate; and Internet users to browse through various products that are listed on its Website and to register with MercadoLibre to list and purchase items and services.

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