Jefferies reiterated Buy for MercadoLibre stock at USD 2,600.00
Published on 10/21/2026 at 11:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSAnalyst view and operating trade-off
- Jefferies set a USD 2,600.00 target on October 19, 2026.
- Second-quarter revenue reached USD 10.17 billion while operating margin was 6.70 percent.
- MercadoLibre stock was trading at EUR 1,661.70 at 11:05 a.m. CEST at Lang & Schwarz on October 21, 2026, 0.83 percent above the Xetra close of October 20, 2026.
MercadoLibre (ISIN US58733R1023) stock was trading at EUR 1,661.70 at Lang & Schwarz on October 21, 2026 at 11:05 a.m. CEST, 0.83 percent above the Xetra close of October 20, 2026 at EUR 1,648.00. The latest analyst action came from Jefferies on October 19, 2026, when the firm reiterated a Buy rating and set a USD 2,600.00 price target, as reported by The Globe and Mail.
What does growth mean for margins?
MercadoLibre's second-quarter results show why the analyst view depends on growth converting into operating leverage. In the quarter ended June 30, 2026, net revenues and financial income reached USD 10.169 billion, up 49.8 percent from USD 6.790 billion a year earlier, according to the company's SEC filing.
The trade-off was visible in profitability. Income from operations fell 17.3 percent year over year to USD 683 million from USD 825 million, while the operating margin narrowed to 6.7 percent from 12.2 percent. Net income declined 10.9 percent to USD 466 million from USD 523 million, and diluted earnings per share came in at USD 9.19.
The latest results set the test
The company said its second-quarter operating margin was broadly stable compared with 6.9 percent in the first quarter, even as investments in shipping, user acquisition, technology and credit weighed on the year-over-year comparison. Total payment volume rose 56 percent to USD 101 billion, while gross merchandise volume increased 44 percent to USD 21.9 billion, according to the SEC filing.
That combination gives the stock a clear test for the next report: sustained revenue growth must begin to support margins. The company's credit portfolio exceeded USD 16 billion in the second quarter, up 75 percent year over year, adding another growth engine but also increasing the importance of credit quality and funding discipline.
When are results due?
The next quarterly results were scheduled for November 2, 2026, according to Yahoo Finance. The key figures will be revenue growth, the operating margin and the performance of Mercado Pago's expanding credit business.
Stock price and analyst target
Jefferies' USD 2,600.00 target sits above the USD 1,879.50 Nasdaq price from October 20, 2026, while the stock's 52-week range was USD 1,495.00 to USD 2,428.00. The euro quotation remained below its 52-week high in the home market, keeping the analyst target and margin trend as the main valuation reference points.
The further course of trading is shown by the continuously updated real-time quote of MercadoLibre stock.
MercadoLibre stock facts
- Company: MercadoLibre, Inc.
- ISIN: US58733R1023
- Ticker: MELI
- Primary exchange: NASDAQ
- Price Lang & Schwarz (as of October 21, 2026, 11:05 a.m. CEST): EUR 1,661.70
- Change versus Xetra close: plus 0.83 percent
- Xetra close (October 20, 2026): EUR 1,648.00
- Market capitalization: USD 95.3 billion (as of October 20, 2026)
- 52-week range: USD 1,495.00-2,428.00 (as of October 20, 2026)
- Sector / Industry: Consumer Cyclical / Specialty Retail
Market context: Market report S&P 500.
