MercadoLibre (NASDAQ:MELI – Free Report) had its price objective trimmed by JPMorgan Chase & Co. from $2,100.00 to $1,900.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.
A number of other analysts also recently commented on MELI. Daiwa Securities Group downgraded MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective for the company. in a report on Friday, May 8th. Morgan Stanley dropped their price objective on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday. Citigroup downgraded MercadoLibre from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $2,200.00 to $1,950.00 in a report on Wednesday. The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a report on Wednesday. Finally, Barclays lowered their price target on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus target price of $2,255.33.
Read Our Latest Analysis on MercadoLibre
MercadoLibre Trading Down 3.8%
MercadoLibre (NASDAQ:MELI – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). The firm had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The company’s quarterly revenue was up 49.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $9.74 earnings per share. On average, equities research analysts expect that MercadoLibre will post 42.53 EPS for the current year.
Institutional Trading of MercadoLibre
Several large investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. increased its holdings in MercadoLibre by 4.9% in the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock valued at $7,012,773,000 after purchasing an additional 164,120 shares in the last quarter. Capital Research Global Investors increased its holdings in MercadoLibre by 22.5% in the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock valued at $4,481,812,000 after purchasing an additional 408,939 shares in the last quarter. Capital World Investors increased its holdings in MercadoLibre by 1.3% in the 3rd quarter. Capital World Investors now owns 1,740,129 shares of the company’s stock valued at $4,067,194,000 after purchasing an additional 22,659 shares in the last quarter. Capital International Investors boosted its position in MercadoLibre by 7.3% in the 4th quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock valued at $3,474,880,000 after buying an additional 118,018 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in MercadoLibre by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock valued at $3,188,718,000 after buying an additional 137,100 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.
MercadoLibre Company Profile
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.
Featured Stories
- Five stocks we like better than MercadoLibre
- Viking Sails to All-Time Highs—Fundamentals Signal More to Come
- Datavalut Gains Traction: 5 Reasons to Sell Now
- TMC Stock: Why This Pre-Revenue Miner Is Worth Watching
- The Power Grid Is Dying—Is It Time to Buy Its Replacement?
Receive News & Ratings for MercadoLibre Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MercadoLibre and related companies with MarketBeat.com's FREE daily email newsletter.
