MercadoLibre SA (NASDAQ:MELI) Receives $162.88 Consensus Price Target from Brokerages
MercadoLibre SA (NASDAQ:MELI) has been assigned an average rating of “Buy” from the ten analysts that are covering the stock. Four analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $162.88.
MELI has been the topic of several recent analyst reports. Piper Jaffray Cos. reaffirmed a “buy” rating and set a $160.00 target price on shares of MercadoLibre SA in a research note on Friday, July 1st. Stifel Nicolaus lifted their target price on MercadoLibre SA from $150.00 to $180.00 and gave the company a “hold” rating in a research note on Thursday. Goldman Sachs Group Inc. initiated coverage on MercadoLibre SA in a research note on Tuesday, August 9th. They set a “neutral” rating and a $170.00 target price on the stock. JPMorgan Chase & Co. raised MercadoLibre SA from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $173.68 to $200.00 in a research note on Friday, September 2nd. Finally, Zacks Investment Research raised MercadoLibre SA from a “hold” rating to a “strong-buy” rating and set a $212.00 target price on the stock in a research note on Wednesday, October 5th.
Shares of MercadoLibre SA (NASDAQ:MELI) opened at 189.83 on Friday. MercadoLibre SA has a 12 month low of $84.19 and a 12 month high of $191.76. The stock has a market capitalization of $8.38 billion, a P/E ratio of 64.13 and a beta of 2.08. The stock has a 50 day moving average price of $178.98 and a 200 day moving average price of $147.61.
MercadoLibre SA (NASDAQ:MELI) last announced its earnings results on Thursday, August 4th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.59 by $0.23. The business had revenue of $199.60 million for the quarter, compared to the consensus estimate of $180.94 million. MercadoLibre SA had a net margin of 18.50% and a return on equity of 38.04%. The firm’s revenue was up 29.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 EPS. On average, analysts anticipate that MercadoLibre SA will post $2.76 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Wednesday, September 28th. MercadoLibre SA’s payout ratio is 20.34%.
In related news, EVP Daniel Rabinovich sold 6,195 shares of MercadoLibre SA stock in a transaction on Friday, August 19th. The stock was sold at an average price of $166.61, for a total value of $1,032,148.95. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Pedro Arnt sold 3,000 shares of MercadoLibre SA stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $168.27, for a total value of $504,810.00. Following the completion of the transaction, the vice president now owns 19,129 shares in the company, valued at $3,218,836.83. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of MELI. Orbis Allan Gray Ltd bought a new position in shares of MercadoLibre SA during the first quarter worth about $70,045,000. Fiera Capital Corp bought a new position in shares of MercadoLibre SA during the second quarter worth about $74,077,000. Jericho Capital Asset Management L.P. bought a new position in shares of MercadoLibre SA during the first quarter worth about $52,059,000. Jackson Square Partners LLC bought a new position in shares of MercadoLibre SA during the second quarter worth about $111,602,000. Finally, Waddell & Reed Financial Inc. boosted its position in shares of MercadoLibre SA by 328.1% in the second quarter. Waddell & Reed Financial Inc. now owns 363,214 shares of the company’s stock worth $51,093,000 after buying an additional 278,364 shares during the last quarter. Institutional investors and hedge funds own 74.01% of the company’s stock.
About MercadoLibre SA
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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