Macquarie downgrades Mercari stock to Neutral at JPY 4,720

Published on 10/07/2026 at 03:50 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Macquarie downgraded Mercari stock to Neutral on September 9, 2026. FY2026 revenue was JPY 229.3 billion, up 19.00 percent.

Mercari, JP3921290007, Illustration mit AI erstellt.

Mercari, Inc. (JP3921290007) faces a more cautious analyst stance after Macquarie downgraded the stock to Neutral from Outperform and set a JPY 4,720 price target on September 9, 2026, according to Investing.com. The target remains a market reference, while Mercari's recent operating figures provide the stronger test for the investment case.

Macquarie turns more cautious

The downgrade changed Macquarie's stance from Outperform to Neutral, while the published target stood at JPY 4,720. The move came after Mercari's fiscal year ended June 30, 2026, giving investors two competing signals: improving profitability and a more restrained broker view.

MarketScreener also identified the September 8, 2026 report as a Macquarie downgrade, while its market page listed Mercari at JPY 3,717.00 on September 18, 2026. The analyst action therefore sits alongside a target that is materially above the quoted Tokyo price, rather than signaling a weakening operating result.

Revenue growth sets the counterpoint

Mercari's FY2026 consolidated revenue reached JPY 229.3 billion, an increase of 19.00 percent from the previous fiscal year, while operating profit rose 57.70 percent to JPY 43.9 billion, according to Quartr on September 18, 2026. That combination matters because profit growth outpaced revenue growth by 38.70 percentage points, showing stronger operating leverage in the reported year.

The same results summary put Marketplace gross merchandise volume at JPY 1,285.6 billion, up 14.70 percent year over year, and FinTech revenue at JPY 65.1 billion, up 29.20 percent. Mercari's FY2027 outlook calls for revenue of JPY 260.0 billion to JPY 290.0 billion and core operating profit of JPY 45.0 billion or more, keeping execution against the new forecast central to the next valuation debate.

Results date sets the next test

Investing.com lists November 4, 2026 as Mercari's next earnings date. The date will give the market its next direct comparison with the JPY 260.0 billion to JPY 290.0 billion revenue outlook and the JPY 45.0 billion core operating profit threshold.

Mercari's investor-relations page describes its marketplace, payments and financial-services businesses, while its FY2026 investor message highlighted 24.0 million monthly marketplace users and 490,000 hours of productivity gains from artificial-intelligence tools, according to Mercari. Those operating indicators give the November report a broader scope than revenue alone.

Tokyo close and euro reference

The last Lang & Schwarz prior close was EUR 19.95 for October 5, 2026. On the Tokyo Stock Exchange, Mercari closed at JPY 3,556.00 on October 5, 2026, while the exchange listing is identified as ticker 4385 under ISIN JP3921290007. The investment case now balances FY2026's 19.00 percent revenue growth against Macquarie's Neutral stance and the November reporting date.

The further course of trading is shown by the continuously updated real-time quote of Mercari stock.