Mercadolibre (NASDAQ:MELI) Raised to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Mercadolibre (NASDAQ:MELI) from a neutral rating to an overweight rating in a research report sent to investors on Tuesday, BenzingaRatingsTable reports. The firm currently has $750.00 price target on the stock, up from their previous price target of $563.00.

Several other brokerages have also commented on MELI. BBA Icatu Securities lowered Mercadolibre from an outperform rating to an underperform rating and increased their price objective for the company from $400.00 to $520.00 in a report on Wednesday, May 8th. ValuEngine lowered Mercadolibre from a strong-buy rating to a buy rating in a report on Monday, June 3rd. BidaskClub lowered Mercadolibre from a buy rating to a hold rating in a report on Tuesday, April 30th. Deutsche Bank upgraded Mercadolibre from a hold rating to a buy rating in a report on Friday, May 3rd. Finally, Piper Jaffray Companies raised their target price on Mercadolibre from $584.00 to $675.00 and gave the stock an overweight rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $620.63.

Mercadolibre stock opened at $623.54 on Tuesday. The business has a fifty day moving average of $634.00 and a two-hundred day moving average of $536.33. The company has a quick ratio of 2.82, a current ratio of 2.54 and a debt-to-equity ratio of 0.36. The firm has a market cap of $31.69 billion, a P/E ratio of -760.41 and a beta of 1.76. Mercadolibre has a twelve month low of $257.52 and a twelve month high of $698.98.



Mercadolibre (NASDAQ:MELI) last posted its earnings results on Wednesday, August 7th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. Mercadolibre had a return on equity of 1.24% and a net margin of 0.87%. The company had revenue of $545.24 million during the quarter, compared to analyst estimates of $507.68 million. During the same quarter in the prior year, the business earned ($0.25) earnings per share. Mercadolibre’s revenue was up 62.6% on a year-over-year basis. Equities analysts expect that Mercadolibre will post 0.78 earnings per share for the current year.

Large investors have recently bought and sold shares of the company. Harvest Group Wealth Management LLC acquired a new stake in Mercadolibre in the 1st quarter worth about $28,000. NEXT Financial Group Inc boosted its holdings in Mercadolibre by 104.3% in the 2nd quarter. NEXT Financial Group Inc now owns 47 shares of the company’s stock worth $29,000 after buying an additional 24 shares during the last quarter. Icon Wealth Partners LLC acquired a new stake in Mercadolibre in the 1st quarter worth about $32,000. CENTRAL TRUST Co boosted its holdings in Mercadolibre by 62.5% in the 2nd quarter. CENTRAL TRUST Co now owns 52 shares of the company’s stock worth $33,000 after buying an additional 20 shares during the last quarter. Finally, Carroll Financial Associates Inc. boosted its holdings in Mercadolibre by 59.5% in the 1st quarter. Carroll Financial Associates Inc. now owns 67 shares of the company’s stock worth $34,000 after buying an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 84.06% of the company’s stock.

About Mercadolibre

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.

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Analyst Recommendations for Mercadolibre (NASDAQ:MELI)

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