Goldman Sachs Group, Inc. (The) Reaffirms Neutral Rating for MercadoLibre, Inc. (MELI)
Goldman Sachs Group, Inc. (The) reiterated their neutral rating on shares of MercadoLibre, Inc. (NASDAQ:MELI) in a research report sent to investors on Tuesday. The brokerage currently has a $215.00 target price on the stock.
Several other research analysts have also issued reports on the stock. Stifel Nicolaus upgraded shares of MercadoLibre from a hold rating to a buy rating and set a $275.00 price target on the stock in a research report on Friday, August 25th. BidaskClub cut shares of MercadoLibre from a buy rating to a hold rating in a research report on Wednesday, August 9th. J P Morgan Chase & Co reiterated a neutral rating and set a $270.00 price objective on shares of MercadoLibre in a research report on Wednesday, August 9th. Zacks Investment Research cut shares of MercadoLibre from a hold rating to a strong sell rating in a research report on Wednesday, August 9th. Finally, Vetr upgraded shares of MercadoLibre from a buy rating to a strong-buy rating and set a $316.69 price objective on the stock in a research report on Monday, August 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $260.13.
MercadoLibre (MELI) traded down 0.52% during midday trading on Tuesday, reaching $268.82. The company had a trading volume of 427,640 shares. The company’s 50 day moving average is $263.51 and its 200-day moving average is $257.58. The company has a market capitalization of $11.87 billion, a P/E ratio of 82.38 and a beta of 2.03. MercadoLibre has a 52-week low of $148.98 and a 52-week high of $297.95.
MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.61 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.45). The business had revenue of $316.53 million during the quarter, compared to analyst estimates of $312.16 million. MercadoLibre had a return on equity of 37.59% and a net margin of 13.37%. The company’s quarterly revenue was up 58.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 EPS. Equities analysts expect that MercadoLibre will post $2.97 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Saturday, September 30th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.22%. The ex-dividend date is Thursday, September 28th. MercadoLibre’s payout ratio is presently 18.40%.
Several hedge funds have recently added to or reduced their stakes in MELI. Koch Industries Inc. lifted its stake in shares of MercadoLibre by 85,458.8% in the 2nd quarter. Koch Industries Inc. now owns 965,959 shares of the company’s stock valued at $962,000 after purchasing an additional 964,830 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of MercadoLibre by 45.9% in the 2nd quarter. Jennison Associates LLC now owns 779,039 shares of the company’s stock valued at $195,445,000 after purchasing an additional 245,213 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of MercadoLibre by 246.4% in the 2nd quarter. Renaissance Technologies LLC now owns 311,800 shares of the company’s stock valued at $78,224,000 after purchasing an additional 221,800 shares during the last quarter. Ardevora Asset Management LLP acquired a new stake in shares of MercadoLibre in the 2nd quarter valued at $42,599,000. Finally, Orbis Allan Gray Ltd lifted its stake in shares of MercadoLibre by 10.2% in the 2nd quarter. Orbis Allan Gray Ltd now owns 1,591,614 shares of the company’s stock valued at $399,304,000 after purchasing an additional 146,891 shares during the last quarter. 85.84% of the stock is owned by institutional investors and hedge funds.
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).
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