MercadoLibre SA (MELI) Shares Gap Up to $142.92
Shares of MercadoLibre SA (NASDAQ:MELI) gapped up prior to trading on Friday . The stock had previously closed at $142.49, but opened at $142.92. MercadoLibre SA shares last traded at $145.17, with a volume of 134,380 shares changing hands.
A number of analysts recently commented on MELI shares. JPMorgan Chase & Co. lowered their target price on shares of MercadoLibre SA from $130.00 to $121.00 and set a “neutral” rating for the company in a research note on Monday, March 14th. Zacks Investment Research upgraded shares of MercadoLibre SA from a “sell” rating to a “hold” rating in a research note on Saturday, April 2nd. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $160.00 target price (up from $150.00) on shares of MercadoLibre SA in a research note on Sunday, April 3rd. Finally, Cowen and Company started coverage on shares of MercadoLibre SA in a research note on Monday, April 25th. They issued a “market perform” rating and a $120.00 target price for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $131.67.
The stock has a market capitalization of $6.46 billion and a price-to-earnings ratio of 48.10. The firm’s 50 day moving average is $136.26 and its 200-day moving average is $117.77.
MercadoLibre SA (NASDAQ:MELI) last released its quarterly earnings data on Thursday, May 5th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.12. The firm earned $157.63 million during the quarter, compared to analyst estimates of $145.95 million. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.78 earnings per share. On average, analysts predict that MercadoLibre SA will post $2.70 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend is Tuesday, June 28th.
Other institutional investors recently added to or reduced their stakes in the company. US Bancorp DE raised its position in MercadoLibre SA by 36.2% in the fourth quarter. US Bancorp DE now owns 13,964 shares of the company’s stock valued at $1,597,000 after buying an additional 3,712 shares during the period. Howland Capital Management LLC raised its position in MercadoLibre SA by 6.7% in the fourth quarter. Howland Capital Management LLC now owns 17,461 shares of the company’s stock valued at $1,996,000 after buying an additional 1,094 shares during the period. Trilogy Global Advisors LP bought a new position in MercadoLibre SA during the fourth quarter valued at approximately $4,906,000. Sei Investments Co. raised its position in MercadoLibre SA by 2,770,200.0% in the fourth quarter. Sei Investments Co. now owns 55,406 shares of the company’s stock valued at $6,335,000 after buying an additional 55,404 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its position in MercadoLibre SA by 3.7% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 62,094 shares of the company’s stock valued at $7,100,000 after buying an additional 2,200 shares during the period.
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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