The Mercadolibre Inc (MELI) Downgraded by JPMorgan Chase & Co.

The Mercadolibre Inc (MELI) Downgraded by JPMorgan Chase & Co.

A number of other brokerages have also recently weighed in on MELI. Credit Suisse Group AG boosted their price target on Mercadolibre from $260.00 to $290.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Barclays PLC reiterated a “buy” rating and issued a $275.00 price objective on shares of Mercadolibre in a research note on Sunday, May 7th. Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $275.00 price objective (up from $213.00) on shares of Mercadolibre in a research note on Tuesday, May 9th. Stifel Nicolaus lifted their price objective on Mercadolibre from $185.00 to $220.00 and gave the stock a “hold” rating in a research note on Friday, February 24th. Finally, Cowen and Company boosted their price target on Mercadolibre from $192.00 to $211.00 and gave the company a “market perform” rating in a research note on Friday, February 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $238.75.

Mercadolibre Inc (NASDAQ:MELI) was downgraded by equities researchers at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Tuesday, May 16th. They currently have a $300.00 price objective on the stock, up from their prior price objective of $296.24. JPMorgan Chase & Co.’s price target would suggest a potential upside of 7.00% from the company’s current price.

Shares of Mercadolibre (MELI) traded down 0.01% on Tuesday, reaching $280.37. The company’s stock had a trading volume of 342,530 shares. The company has a 50 day moving average of $259.59 and a 200 day moving average of $204.22. The stock has a market capitalization of $12.38 billion, a P/E ratio of 80.06 and a beta of 2.17. Mercadolibre has a 1-year low of $126.10 and a 1-year high of $297.95.

Mercadolibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, May 4th. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.32. Mercadolibre had a return on equity of 38.86% and a net margin of 16.13%. The company had revenue of $273.90 million during the quarter, compared to analysts’ expectations of $247.85 million. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The business’s quarterly revenue was up 73.8% compared to the same quarter last year. Equities research analysts expect that Mercadolibre will post $4.74 earnings per share for the current fiscal year. The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.21%. The ex-dividend date is Wednesday, June 28th. Mercadolibre’s dividend payout ratio is 21.43%.

Mercadolibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, May 4th. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.32. Mercadolibre had a return on equity of 38.86% and a net margin of 16.13%. The company had revenue of $273.90 million during the quarter, compared to analysts’ expectations of $247.85 million. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The business’s quarterly revenue was up 73.8% compared to the same quarter last year. Equities research analysts expect that Mercadolibre will post $4.74 earnings per share for the current fiscal year. In other Mercadolibre news, VP Stelleo Tolda sold 2,000 shares of the company’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $211.00, for a total transaction of $422,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.36% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Orbis Allan Gray Ltd increased its position in Mercadolibre by 105.1% in the fourth quarter. Orbis Allan Gray Ltd now owns 1,360,358 shares of the company’s stock worth $212,407,000 after buying an additional 697,057 shares during the period. Norges Bank purchased a new stake in Mercadolibre during the fourth quarter worth approximately $36,985,000. 1832 Asset Management L.P. purchased a new stake in Mercadolibre during the third quarter worth approximately $42,134,000. Russell Investments Group Ltd. purchased a new stake in Mercadolibre during the fourth quarter worth approximately $34,928,000. Finally, State Street Corp boosted its stake in Mercadolibre by 671.4% in the fourth quarter. State Street Corp now owns 245,853 shares of the company’s stock worth $38,391,000 after buying an additional 213,980 shares in the last quarter. 76.61% of the stock is currently owned by institutional investors. About Mercadolibre

MercadoLibre, Inc is an e-commerce company. The Company enables commerce through its marketplace platform in Latin America, which is designed to provide users with a portfolio of services to facilitate commercial transactions. Its geographic segments are Brazil, Argentina, Mexico Venezuela and Other Countries (which includes Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Portugal, Guatemala, Bolivia, Paraguay, Uruguay and the United States of America).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:MELI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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