Credit Suisse Group restated their outperform rating on shares of Mercadolibre (NASDAQ:MELI) in a report issued on Monday, January 8th, MarketBeat Ratings reports. They currently have a $385.00 target price on the stock, up from their prior target price of $380.00.
MELI has been the topic of several other reports. KeyCorp reissued a buy rating and set a $290.00 price target on shares of Mercadolibre in a research report on Tuesday, October 17th. Stifel Nicolaus restated a buy rating and set a $275.00 price objective on shares of Mercadolibre in a report on Wednesday, October 4th. Barclays dropped their price objective on Mercadolibre from $275.00 to $250.00 and set an overweight rating on the stock in a report on Monday, October 30th. Piper Jaffray Companies restated a buy rating and set a $268.00 price objective on shares of Mercadolibre in a report on Monday, October 23rd. Finally, Goldman Sachs Group restated a neutral rating and set a $215.00 price objective on shares of Mercadolibre in a report on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Mercadolibre currently has an average rating of Buy and an average price target of $296.71.
Mercadolibre (MELI) traded down $10.37 during trading on Monday, reaching $368.39. The company had a trading volume of 591,285 shares, compared to its average volume of 547,901. The firm has a market cap of $15,820.00, a price-to-earnings ratio of 122.39, a PEG ratio of 5.01 and a beta of 2.15. The company has a quick ratio of 1.43, a current ratio of 1.44 and a debt-to-equity ratio of 0.76. Mercadolibre has a 12-month low of $189.04 and a 12-month high of $395.67.
Mercadolibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, November 2nd. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.56 by $0.07. The firm had revenue of $370.66 million for the quarter, compared to analyst estimates of $347.29 million. Mercadolibre had a return on equity of 34.78% and a net margin of 10.91%. Mercadolibre’s revenue for the quarter was up 60.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 EPS. sell-side analysts anticipate that Mercadolibre will post 2.42 earnings per share for the current year.
In other news, Director Alejandro Nicolas Aguzin purchased 10,000 shares of the stock in a transaction dated Monday, November 27th. The stock was acquired at an average cost of $274.47 per share, for a total transaction of $2,744,700.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $2,744,700. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.36% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in MELI. Rhumbline Advisers acquired a new position in Mercadolibre during the 2nd quarter worth $662,000. Bank of New York Mellon Corp boosted its position in Mercadolibre by 54.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 41,317 shares of the company’s stock worth $10,365,000 after acquiring an additional 14,491 shares during the period. Pacer Advisors Inc. acquired a new position in Mercadolibre during the 2nd quarter worth $146,000. Cambridge Investment Research Advisors Inc. acquired a new position in Mercadolibre during the 2nd quarter worth $351,000. Finally, Keybank National Association OH boosted its position in Mercadolibre by 44.7% during the 2nd quarter. Keybank National Association OH now owns 1,780 shares of the company’s stock worth $447,000 after acquiring an additional 550 shares during the period. Institutional investors and hedge funds own 89.48% of the company’s stock.
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Mercadolibre Company Profile
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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