MercadoLibre SA (NASDAQ:MELI) had its target price increased by equities research analysts at Stifel Nicolaus from $150.00 to $180.00 in a research note issued to investors on Thursday. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ target price points to a potential downside of 5.18% from the stock’s previous close.
Other equities analysts have also issued research reports about the stock. Piper Jaffray Cos. reissued a “buy” rating and issued a $160.00 price target on shares of MercadoLibre SA in a report on Friday, July 1st. Goldman Sachs Group Inc. began coverage on shares of MercadoLibre SA in a report on Tuesday, August 9th. They set a “neutral” rating and a $170.00 target price on the stock. JPMorgan Chase & Co. raised shares of MercadoLibre SA from a “neutral” rating to an “overweight” rating and increased their target price for the company from $173.68 to $200.00 in a report on Friday, September 2nd. Finally, Zacks Investment Research raised shares of MercadoLibre SA from a “hold” rating to a “strong-buy” rating and set a $212.00 target price on the stock in a report on Wednesday, October 5th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $162.88.
Shares of MercadoLibre SA (NASDAQ:MELI) opened at 189.83 on Thursday. MercadoLibre SA has a 1-year low of $84.19 and a 1-year high of $191.76. The firm has a 50-day moving average of $178.98 and a 200 day moving average of $147.61. The company has a market capitalization of $8.38 billion, a P/E ratio of 64.13 and a beta of 2.08.
MercadoLibre SA (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.59 by $0.23. The company earned $199.60 million during the quarter, compared to the consensus estimate of $180.94 million. MercadoLibre SA had a return on equity of 38.04% and a net margin of 18.50%. MercadoLibre SA’s quarterly revenue was up 29.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 EPS. On average, equities research analysts expect that MercadoLibre SA will post $2.76 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.60 annualized dividend and a yield of 0.32%. MercadoLibre SA’s payout ratio is currently 20.34%.
In other news, EVP Daniel Rabinovich sold 6,195 shares of the firm’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $166.61, for a total value of $1,032,148.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director A Michael Spence sold 3,451 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $168.97, for a total transaction of $583,115.47. Following the completion of the sale, the director now directly owns 6,903 shares of the company’s stock, valued at $1,166,399.91. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Orbis Allan Gray Ltd bought a new stake in MercadoLibre SA during the first quarter valued at approximately $70,045,000. Envestnet Asset Management Inc. boosted its stake in MercadoLibre SA by 16.2% in the first quarter. Envestnet Asset Management Inc. now owns 9,814 shares of the company’s stock valued at $1,157,000 after buying an additional 1,370 shares in the last quarter. Mariner Wealth Advisors LLC bought a new stake in MercadoLibre SA during the first quarter valued at approximately $205,000. Geode Capital Management LLC boosted its stake in MercadoLibre SA by 7.2% in the first quarter. Geode Capital Management LLC now owns 17,156 shares of the company’s stock valued at $2,021,000 after buying an additional 1,158 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in MercadoLibre SA by 99.1% in the first quarter. Loomis Sayles & Co. L P now owns 1,959 shares of the company’s stock valued at $231,000 after buying an additional 975 shares in the last quarter. 74.01% of the stock is owned by hedge funds and other institutional investors.
MercadoLibre SA Company Profile
MercadoLibre, Inc (MercadoLibre) hosts an online commerce platform in Latin America, which is focused on enabling e-commerce and its related services. The Company provides a portfolio of services facilitating e-commerce transactions. Its geographic segments are Brazil, Argentina, Mexico, Venezuela and other countries (including Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Portugal, Guatemala, Bolivia, Paraguay, Uruguay and the United States of America.
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