Mercadolibre (NASDAQ:MELI) had its price objective boosted by Stifel Nicolaus from $360.00 to $380.00 in a report published on Thursday, Marketbeat reports. The brokerage currently has a hold rating on the stock.
Several other research analysts have also issued reports on MELI. Bank of America reissued a buy rating and issued a $450.00 target price (up previously from $385.00) on shares of Mercadolibre in a research report on Wednesday, April 11th. BidaskClub lowered Mercadolibre from a hold rating to a sell rating in a research report on Saturday, April 14th. Cowen reaffirmed a hold rating and set a $373.00 price objective on shares of Mercadolibre in a research report on Tuesday, April 17th. Barclays reduced their price objective on Mercadolibre from $410.00 to $380.00 and set an overweight rating for the company in a research report on Wednesday, April 25th. Finally, ValuEngine raised Mercadolibre from a buy rating to a strong-buy rating in a research report on Wednesday, May 2nd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $356.92.
Mercadolibre traded down $12.04, reaching $372.35, during midday trading on Thursday, according to Marketbeat Ratings. 986,389 shares of the company’s stock traded hands, compared to its average volume of 881,727. The firm has a market capitalization of $16.97 billion, a price-to-earnings ratio of 1,325.48 and a beta of 2.04. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.18 and a quick ratio of 1.18. Mercadolibre has a 52 week low of $217.06 and a 52 week high of $417.91.
Mercadolibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, August 8th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.04). Mercadolibre had a negative net margin of 4.39% and a positive return on equity of 3.75%. The business had revenue of $335.40 million for the quarter, compared to the consensus estimate of $333.98 million. During the same period in the previous year, the company earned $0.61 EPS. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. sell-side analysts expect that Mercadolibre will post -0.11 EPS for the current fiscal year.
In related news, Director Meyer Malka bought 1,708 shares of the firm’s stock in a transaction that occurred on Tuesday, May 22nd. The shares were bought at an average cost of $292.65 per share, with a total value of $499,846.20. Following the acquisition, the director now owns 1,708 shares in the company, valued at $499,846.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders purchased 34,726 shares of company stock worth $10,451,306. 0.32% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. TIAA CREF Investment Management LLC boosted its holdings in shares of Mercadolibre by 66.2% in the fourth quarter. TIAA CREF Investment Management LLC now owns 11,801 shares of the company’s stock valued at $3,713,000 after purchasing an additional 4,700 shares during the period. Wasatch Advisors Inc. raised its stake in Mercadolibre by 4.3% in the first quarter. Wasatch Advisors Inc. now owns 90,911 shares of the company’s stock worth $32,400,000 after buying an additional 3,745 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Mercadolibre by 109.6% in the first quarter. Daiwa Securities Group Inc. now owns 2,683 shares of the company’s stock worth $956,000 after buying an additional 1,403 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in Mercadolibre by 233.2% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 15,858 shares of the company’s stock worth $5,652,000 after buying an additional 11,099 shares in the last quarter. Finally, Westpac Banking Corp raised its stake in Mercadolibre by 11.4% in the first quarter. Westpac Banking Corp now owns 27,793 shares of the company’s stock worth $9,905,000 after buying an additional 2,853 shares in the last quarter. 87.71% of the stock is currently owned by institutional investors.
MercadoLibre, Inc hosts online commerce platforms in Latin America. It offers MercadoLibre Marketplace, an automated online commerce service for businesses and individuals to list items and conduct their sales and purchases online in a fixed-price or auction-based format. The company's Marketplace platform enables commerce through online classifieds for motor vehicles, vessels, aircraft, services, and real estate; and Internet users to browse through various products that are listed on its Website and to register with MercadoLibre to list and purchase items and services.
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