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Equities research analysts at Piper Jaffray upped their target price on shares of MercadoLibre (NASDAQ:MELI) from $128.00 to $132.00 in a research note issued to investors on Friday, American Banking & Market News reports. The firm currently has an “overweight” rating on the stock. Piper Jaffray’s price objective would suggest a potential upside of 56.08% from the stock’s previous close.

Shares of MercadoLibre (NASDAQ:MELI) opened at 84.57 on Friday. MercadoLibre has a 52-week low of $80.44 and a 52-week high of $145.99. The stock has a 50-day moving average of $89.16 and a 200-day moving average of $101.6. The company has a market cap of $3.734 billion and a price-to-earnings 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 declared a quarterly dividend, which is scheduled for Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.166 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.79%.

MELI has been the subject of a number of other recent research reports. Analysts at Morgan Stanley reiterated an “underweight” rating on shares of MercadoLibre in a research note on Wednesday, April 23rd. They now have a $70.00 price target on the stock, down previously from $75.00. 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 research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $108.71.

MercadoLibre, Inc hosts an online commerce platform in Latin America, called MercadoLibre and located at www.

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