MercadoLibre, Inc. (MELI) Stock Rating Upgraded by Vetr Inc.
MercadoLibre, Inc. (NASDAQ:MELI) was upgraded by investment analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued on Monday. The brokerage currently has a $316.69 price target on the stock. Vetr‘s target price points to a potential upside of 25.71% from the company’s previous close.
Several other research firms have also weighed in on MELI. Credit Suisse Group upped their price target on MercadoLibre from $260.00 to $290.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. BidaskClub lowered MercadoLibre from a “buy” rating to a “hold” rating in a research report on Wednesday, June 28th. Barclays PLC reissued a “buy” rating and set a $275.00 price target on shares of MercadoLibre in a research report on Sunday, May 7th. Zacks Investment Research lowered MercadoLibre from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Finally, Goldman Sachs Group, Inc. (The) lowered MercadoLibre from a “buy” rating to a “neutral” rating and dropped their price target for the company from $309.00 to $290.00 in a research report on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $259.91.
Shares of MercadoLibre (NASDAQ:MELI) opened at 251.92 on Monday. The firm has a market capitalization of $11.12 billion, a price-to-earnings ratio of 71.94 and a beta of 2.05. MercadoLibre has a 52 week low of $148.98 and a 52 week high of $297.95. The firm has a 50-day moving average price of $271.82 and a 200-day moving average price of $238.35.
MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.61 earnings per share for the quarter, missing the consensus estimate of $1.06 by $0.45. The business had revenue of $316.53 million for the quarter, compared to analyst estimates of $312.16 million. MercadoLibre had a net margin of 13.37% and a return on equity of 38.10%. The firm’s quarterly revenue was up 58.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 earnings per share. On average, equities analysts expect that MercadoLibre will post $3.95 earnings per share for the current fiscal year.
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Several hedge funds have recently added to or reduced their stakes in the company. Keybank National Association OH increased its stake in MercadoLibre by 44.7% in the second quarter. Keybank National Association OH now owns 1,780 shares of the company’s stock valued at $447,000 after buying an additional 550 shares during the period. Cambridge Investment Research Advisors Inc. bought a new stake in MercadoLibre during the second quarter valued at about $351,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in MercadoLibre by 77.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,752 shares of the company’s stock valued at $3,199,000 after buying an additional 5,549 shares during the period. Neuberger Berman Group LLC increased its stake in MercadoLibre by 0.6% in the second quarter. Neuberger Berman Group LLC now owns 75,145 shares of the company’s stock valued at $18,852,000 after buying an additional 415 shares during the period. Finally, Pacer Advisors Inc. bought a new stake in MercadoLibre during the second quarter valued at about $146,000. Institutional investors own 92.15% of the company’s stock.
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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