JP Morgan Cazenove dropped their price objective on shares of MercadoLibre (NASDAQ: MELI) from $120.00 to $109.00 in a research note issued on Monday, AnalystRatingsNetwork reports. The firm currently has a “neutral” rating on the stock. JP Morgan Cazenove’s price objective would indicate a potential upside of 0.43% from the company’s current price.
MELI has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. set a $109.00 price target on shares of MercadoLibre in a research note to investors on Friday. Separately, analysts at Piper Jaffray Cos. set a $151.00 price target on shares of MercadoLibre in a research note to investors on Wednesday, June 19th. They now have an “overweight” rating on the stock.
Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. MercadoLibre presently has a consensus rating of “Hold” and a consensus price target of $113.83.
MercadoLibre (NASDAQ: MELI) traded down 4.29% on Monday, hitting $108.53. MercadoLibre has a 1-year low of $64.18 and a 1-year high of $128.46. The stock’s 50-day moving average is currently $112.. The company has a market cap of $4.792 billion and a price-to-earnings ratio of 50.76.
MercadoLibre (NASDAQ: MELI) last announced its earnings results on Monday, May 6th. The company reported $0.53 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.54 by $0.01. The company had revenue of $102.70 million for the quarter, compared to the consensus estimate of $97.44 million. During the same quarter last year, the company posted $0.45 earnings per share. MercadoLibre’s revenue was up 22.7% compared to the same quarter last year. On average, analysts predict that MercadoLibre will post $2.79 earnings per share for the current fiscal year.
MercadoLibre, Inc hosts an online commerce platform in Latin America, called MercadoLibre and located at www.
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