MercadoLibre

MELI · NASDAQ

$1,810.15−$14.81 (−0.81%)TodayMarket closed · Oct 23, 7:47 PM ET

Prev close $1,824.96

MELI analyst rating

BuyConsensus of 12 analysts over the last 12 months. 75% rate it a buy.

Strong buy0
Buy9
Hold3
Underperform0
Sell0

12-month price target · 27 analysts

Average $2,289.63 (+26.5% upside)

Low: $1,767.50
Now: $1,810.15
High: $2,940.00

Upgrades and downgrades

The latest rating actions, newest first

MELI analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Citigroup	Oct 13, 2026	Maintains	Neutral	$2,150.00 → $2,100.00	71%
Cantor Fitzgerald	Oct 12, 2026	Maintains	Overweight	$2,300.00 → $2,200.00	62%
Susquehanna	Oct 6, 2026	Maintains	Positive	$2,400.00 → $2,500.00	42%
BTIG	Sep 3, 2026	Maintains	Buy	$2,150.00	45%
JP Morgan	Aug 11, 2026	Maintains	Neutral	$1,900.00 → $2,150.00	64%
Cantor Fitzgerald	Aug 6, 2026	Maintains	Overweight	$2,150.00 → $2,300.00	62%
BTIG	Aug 6, 2026	Maintains	Buy	$2,150.00	45%
Citigroup	Jul 15, 2026	Maintains	Neutral	$1,950.00 → $2,000.00	71%
BTIG	Jun 2, 2026	Maintains	Buy	$2,150.00	45%
Citigroup	May 13, 2026	Downgrade	Buy → Neutral	$2,200.00 → $1,950.00	71%

The case for and against

Updated Oct 21, 2026

Bull case

MercadoLibre is well positioned because its platform continues to take share in a winner-take-most market, with Brazil e-commerce share at 49.2% after an estimated ~410 bps y/y gain and the eleventh consecutive quarter of share gains. Its ecosystem is strengthening as Marketplace scale, fulfillment, advertising, Mercado Pago, and Mercado Credito reinforce one another, while partnerships like Magazine Luiza and Casas Bahia further validate its dominance and broaden supply. Financially, the company is combining growth with improving quality: 2Q26 GMV was $21.9B, TPV $101.0B, Adjusted EBITDA $975MM, and consolidated NIMAL rose 290 bps q/q, supporting the view that expansion remains profitable.

Bear case

MercadoLibre is facing a deteriorating fundamental setup because competitive pressure from local and APAC players could intensify just as weaker e-commerce and payment adoption in Latin America threatens growth across both its marketplace and fintech segments. Margin trends are also slipping, with a 20 bps sequential operating margin decline driven by 280 bps of gross margin compression that only partly offset 260 bps of opex leverage, while Mexico saw 430 bps of contribution margin compression and Argentina 210 bps. On top of that, adverse regulation or taxation, currency depreciation, wider Argentina dollar spreads, higher funding costs, and a regional macro downturn could hurt GMV, loan losses, and profitability.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.