Cowen and Company Analysts Give MercadoLibre SA (MELI) a $165.00 Price Target
MercadoLibre SA (NASDAQ:MELI) received a $165.00 price objective from investment analysts at Cowen and Company in a report issued on Thursday. The firm currently has a a “hold” rating on the stock. Cowen and Company’s price objective would indicate a potential downside of 9.94% from the company’s previous close.
Several other brokerages also recently issued reports on MELI. Piper Jaffray Cos. reiterated a “buy” rating and set a $160.00 price objective on shares of MercadoLibre SA in a research report on Friday, July 1st. JPMorgan Chase & Co. upgraded MercadoLibre SA from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $173.68 to $200.00 in a research report on Friday, September 2nd. Stifel Nicolaus boosted their price objective on MercadoLibre SA from $150.00 to $180.00 and gave the stock a “hold” rating in a research report on Thursday, October 6th. Zacks Investment Research upgraded MercadoLibre SA from a “hold” rating to a “strong-buy” rating and set a $212.00 price objective for the company in a research report on Wednesday, October 5th. Finally, Goldman Sachs Group Inc. initiated coverage on MercadoLibre SA in a research report on Tuesday, August 9th. They set a “neutral” rating and a $170.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. MercadoLibre SA presently has a consensus rating of “Buy” and an average target price of $168.50.
MercadoLibre SA (NASDAQ:MELI) traded down 6.77% during midday trading on Thursday, hitting $170.80. The stock had a trading volume of 1,536,113 shares. The stock has a market cap of $7.54 billion, a PE ratio of 57.70 and a beta of 2.08. MercadoLibre SA has a one year low of $84.19 and a one year high of $193.58. The firm has a 50 day moving average price of $180.57 and a 200 day moving average price of $149.15.
MercadoLibre SA (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by $0.23. The business had revenue of $199.60 million for the quarter, compared to analyst estimates of $180.94 million. MercadoLibre SA had a return on equity of 38.04% and a net margin of 18.50%. The business’s quarterly revenue was up 29.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 earnings per share. Equities analysts expect that MercadoLibre SA will post $2.76 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.60 annualized dividend and a dividend yield of 0.33%. MercadoLibre SA’s dividend payout ratio is currently 20.34%.
In other MercadoLibre SA news, Director A Michael Spence sold 3,451 shares of the company’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $168.97, for a total value of $583,115.47. Following the transaction, the director now owns 6,903 shares of the company’s stock, valued at $1,166,399.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel Rabinovich sold 6,195 shares of the company’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $166.61, for a total value of $1,032,148.95. The disclosure for this sale can be found here. 0.36% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of MELI. Creative Planning boosted its position in MercadoLibre SA by 43.3% in the third quarter. Creative Planning now owns 1,614 shares of the company’s stock valued at $299,000 after buying an additional 488 shares in the last quarter. Harding Loevner LP bought a new position in MercadoLibre SA during the third quarter valued at about $93,392,000. Eqis Capital Management Inc. boosted its position in MercadoLibre SA by 17.9% in the third quarter. Eqis Capital Management Inc. now owns 4,273 shares of the company’s stock valued at $790,000 after buying an additional 650 shares in the last quarter. Macquarie Group Ltd. boosted its position in MercadoLibre SA by 70.9% in the second quarter. Macquarie Group Ltd. now owns 21,019 shares of the company’s stock valued at $2,957,000 after buying an additional 8,719 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in MercadoLibre SA by 8.8% in the second quarter. IFP Advisors Inc now owns 765 shares of the company’s stock valued at $108,000 after buying an additional 62 shares in the last quarter. 74.01% of the stock is currently owned by 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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