MercadoLibre SA (MELI) Given a $165.00 Price Target at Cowen and Company
MercadoLibre SA (NASDAQ:MELI) has been given a $165.00 price objective by investment analysts at Cowen and Company in a research report issued to clients and investors on Thursday. The firm currently has a a “hold” rating on the stock. Cowen and Company’s target price points to a potential downside of 9.94% from the company’s current price.
Several other brokerages have also recently weighed in on MELI. Piper Jaffray Cos. reaffirmed a “buy” rating and issued a $160.00 price target on shares of MercadoLibre SA in a research report on Friday, July 1st. Goldman Sachs Group Inc. assumed coverage on shares of MercadoLibre SA in a research report on Tuesday, August 9th. They issued a “neutral” rating and a $170.00 price target for the company. JPMorgan Chase & Co. raised shares of MercadoLibre SA from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $173.68 to $200.00 in a research report on Friday, September 2nd. Zacks Investment Research raised shares of MercadoLibre SA from a “hold” rating to a “strong-buy” rating and set a $212.00 price target for the company in a research report on Wednesday, October 5th. Finally, Stifel Nicolaus upped their price target on shares of MercadoLibre SA from $150.00 to $180.00 and gave the stock a “hold” rating in a research report on Thursday, October 6th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. MercadoLibre SA currently has a consensus rating of “Buy” and an average price target of $168.50.
Shares of MercadoLibre SA (NASDAQ:MELI) traded down 7.03% during midday trading on Thursday, hitting $170.33. 1,527,406 shares of the company traded hands. MercadoLibre SA has a 52 week low of $84.19 and a 52 week high of $193.58. The stock has a market capitalization of $7.52 billion, a P/E ratio of 57.54 and a beta of 2.08. The company has a 50-day moving average price of $180.57 and a 200-day moving average price of $149.15.
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MercadoLibre SA (NASDAQ:MELI) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by $0.23. The company earned $199.60 million during the quarter, compared to analysts’ expectations of $180.94 million. MercadoLibre SA had a net margin of 18.50% and a return on equity of 38.04%. MercadoLibre SA’s quarterly revenue was up 29.4% on a year-over-year basis. During the same period last year, the firm earned $0.44 earnings per share. Analysts anticipate that MercadoLibre SA will post $2.76 earnings per share for the current fiscal 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 paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.60 dividend on an annualized basis and a yield of 0.33%. MercadoLibre SA’s payout ratio is 20.34%.
In other MercadoLibre SA news, EVP Daniel Rabinovich sold 6,195 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $166.61, for a total transaction of $1,032,148.95. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Pedro Arnt sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $168.27, for a total transaction of $504,810.00. Following the transaction, the vice president now owns 19,129 shares in the company, valued at approximately $3,218,836.83. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning raised its position in shares of MercadoLibre SA by 43.3% in the third quarter. Creative Planning now owns 1,614 shares of the company’s stock worth $299,000 after buying an additional 488 shares during the last quarter. Harding Loevner LP bought a new position in shares of MercadoLibre SA during the third quarter worth about $93,392,000. Eqis Capital Management Inc. raised its position in shares of MercadoLibre SA by 17.9% in the third quarter. Eqis Capital Management Inc. now owns 4,273 shares of the company’s stock worth $790,000 after buying an additional 650 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of MercadoLibre SA by 70.9% in the second quarter. Macquarie Group Ltd. now owns 21,019 shares of the company’s stock worth $2,957,000 after buying an additional 8,719 shares during the last quarter. Finally, IFP Advisors Inc raised its position in shares of MercadoLibre SA by 8.8% in the second quarter. IFP Advisors Inc now owns 765 shares of the company’s stock worth $108,000 after buying an additional 62 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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