MercadoLibre Stock Rating Upgraded by Morgan Stanley (MELI)
MercadoLibre (NASDAQ:MELI) was upgraded by stock analysts at Morgan Stanley to an “underweight” rating in a report issued on Friday, Analyst Ratings News reports. The firm currently has a $64.00 price objective on the stock, down from their previous price objective of $70.00. Morgan Stanley’s price objective would suggest a potential downside of 23.13% from the company’s current price.
The analysts wrote, “MELI is an ecommerce leader in Latam with solid long-term growth potential, but we continue to find valuation rich, in light of heightened macro risks. We trim our DCF-based target to $64 from $70 to reflect a higher assumed WACC, and we remain Underweight despite the recent pull-back.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Piper Jaffray raised their price target on shares of MercadoLibre from $128.00 to $132.00 in a research note on Friday. They now have an “overweight” rating on the stock. Separately, analysts at Citigroup Inc. initiated coverage on shares of MercadoLibre in a research note on Monday, March 31st. They set a “sell” rating on the stock. Finally, analysts at Stifel Nicolaus upgraded shares of MercadoLibre from a “sell” rating to a “buy” rating in a research note on Friday, February 28th. They now have a $130.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. MercadoLibre presently has an average rating of “Hold” and a consensus target price of $108.71.
MercadoLibre (NASDAQ:MELI) traded up 1.54% during mid-day trading on Friday, hitting $84.54. The stock had a trading volume of 369,908 shares. MercadoLibre has a 52 week low of $80.44 and a 52 week high of $145.99. The stock’s 50-day moving average is $89.46 and its 200-day moving average is $102.0. The company has a market cap of $3.733 billion and a P/E ratio of 31.30.
MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, May 8th. The company reported $0.69 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.57 by $0.12. The company had revenue of $115.40 million for the quarter, compared to the consensus estimate of $109.37 million. During the same quarter in the prior year, the company posted $0.53 earnings per share. The company’s quarterly revenue was up 12.4% on a year-over-year basis. On average, analysts predict that MercadoLibre will post $2.76 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.166 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.80%.
MercadoLibre, Inc hosts an online commerce platform in Latin America, called MercadoLibre and located at www.
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