MercadoLibre, Inc. (MELI) Stock Rating Reaffirmed by Stifel Nicolaus
MercadoLibre, Inc. (NASDAQ:MELI)‘s stock had its “buy” rating restated by research analysts at Stifel Nicolaus in a research report issued to clients and investors on Wednesday. They presently have a $275.00 price objective on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 1.77% from the company’s current price.
Other equities research analysts also recently issued reports about the stock. J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $270.00 target price on shares of MercadoLibre in a research note on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) downgraded shares of MercadoLibre from a “buy” rating to a “neutral” rating and cut their target price for the stock from $309.00 to $290.00 in a research note on Tuesday, June 13th. Barclays PLC boosted their price target on shares of MercadoLibre from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, June 9th. BidaskClub cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. Finally, Vetr upgraded shares of MercadoLibre from a “buy” rating to a “strong-buy” rating and set a $316.69 price target for the company in a report on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $260.13.
Shares of MercadoLibre (NASDAQ MELI) traded up 0.53% during trading on Wednesday, reaching $271.66. 163,107 shares of the company’s stock were exchanged. The company has a 50 day moving average of $263.51 and a 200 day moving average of $257.58. The stock has a market cap of $12.00 billion, a P/E ratio of 83.25 and a beta of 2.03. MercadoLibre has a 12-month low of $148.98 and a 12-month high of $297.95.
MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, August 3rd. The company reported $0.61 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.45). MercadoLibre had a return on equity of 37.59% and a net margin of 13.37%. The business had revenue of $316.53 million for the quarter, compared to analysts’ expectations of $312.16 million. During the same period in the previous year, the company earned $0.74 earnings per share. MercadoLibre’s quarterly revenue was up 58.6% on a year-over-year basis. Equities research analysts anticipate that MercadoLibre will post $2.97 EPS for the current year.
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Hedge funds have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System increased its holdings in shares of MercadoLibre by 4.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 2,300 shares of the company’s stock valued at $486,000 after purchasing an additional 100 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of MercadoLibre by 15.7% in the 1st 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 in the last quarter. Karp Capital Management Corp purchased a new position in shares of MercadoLibre in the 1st quarter valued at about $335,000. Envestnet Asset Management Inc. increased its holdings in shares of MercadoLibre by 3.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 5,346 shares of the company’s stock valued at $1,130,000 after purchasing an additional 192 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of MercadoLibre by 31.2% in the 1st quarter. KBC Group NV now owns 3,296 shares of the company’s stock valued at $697,000 after purchasing an additional 783 shares in the last quarter. Hedge funds and other institutional investors own 85.84% 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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