MercadoLibre, Inc. (MELI) Given New $380.00 Price Target at Credit Suisse Group
MercadoLibre, Inc. (NASDAQ:MELI) had its price target upped by stock analysts at Credit Suisse Group from $350.00 to $380.00 in a research report issued to clients and investors on Friday. The brokerage currently has an “outperform” rating on the stock. Credit Suisse Group’s target price would suggest a potential upside of 42.14% from the company’s previous close.
Other equities analysts have also issued reports about the company. Susquehanna Bancshares Inc reduced their target price on MercadoLibre from $275.00 to $230.00 in a report on Friday, October 13th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $275.00 target price on shares of MercadoLibre in a report on Wednesday, October 4th. BidaskClub raised MercadoLibre from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $287.00 target price on shares of MercadoLibre in a report on Thursday, July 13th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $290.00 target price on shares of MercadoLibre in a report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $271.21.
MercadoLibre (MELI) traded up $28.33 during mid-day trading on Friday, hitting $267.35. The stock had a trading volume of 2,921,620 shares, compared to its average volume of 1,033,344. The company has a market capitalization of $10.42 billion, a P/E ratio of 67.43 and a beta of 2.04.
MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, November 2nd. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.07. The company had revenue of $370.66 million during the quarter, compared to analyst estimates of $347.29 million. MercadoLibre had a return on equity of 33.82% and a net margin of 10.91%. MercadoLibre’s quarterly revenue was up 60.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.88 earnings per share. analysts expect that MercadoLibre will post 2.58 EPS for the current year.
A number of institutional investors have recently bought and sold shares of MELI. Bank of New York Mellon Corp lifted its stake in MercadoLibre by 15.7% in the first quarter. Bank of New York Mellon Corp now owns 26,826 shares of the company’s stock valued at $5,672,000 after purchasing an additional 3,646 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of MercadoLibre by 21.5% during the first quarter. Vanguard Group Inc. now owns 180,912 shares of the company’s stock worth $38,258,000 after acquiring an additional 32,047 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of MercadoLibre by 10.7% during the first quarter. Geode Capital Management LLC now owns 68,765 shares of the company’s stock worth $14,517,000 after acquiring an additional 6,627 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of MercadoLibre by 33.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,874 shares of the company’s stock worth $608,000 after acquiring an additional 725 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of MercadoLibre during the first quarter worth $19,032,000. Institutional investors and hedge funds own 83.92% of the company’s stock.
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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