MercadoLibre, Inc. (NASDAQ:MELI) Price Target Lowered to $290.00 at Barclays PLC
MercadoLibre, Inc. (NASDAQ:MELI) had its price objective dropped by Barclays PLC from $300.00 to $290.00 in a research report issued on Wednesday. The brokerage presently has an “overweight” rating on the stock. Barclays PLC’s target price suggests a potential upside of 3.48% from the stock’s previous close.
Other equities analysts also recently issued reports about the company. Citigroup Inc. upgraded MercadoLibre from a “sell” rating to a “buy” rating and raised their price target for the stock from $126.10 to $263.45 in a research note on Monday, June 19th. Bank of America Corporation lifted their target price on MercadoLibre from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. BidaskClub upgraded MercadoLibre from a “hold” rating to a “buy” rating in a research report on Sunday. Piper Jaffray Companies reiterated a “buy” rating and set a $287.00 target price on shares of MercadoLibre in a research report on Thursday, July 13th. Finally, Credit Suisse Group reiterated a “buy” rating and set a $290.00 target price on shares of MercadoLibre in a research report on Friday, July 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $256.69.
Shares of MercadoLibre (MELI) traded up 0.173% during mid-day trading on Wednesday, hitting $280.725. The company’s stock had a trading volume of 323,675 shares. The stock’s 50 day moving average price is $269.32 and its 200 day moving average price is $229.67. MercadoLibre has a 52-week low of $148.71 and a 52-week high of $297.95. The company has a market cap of $12.40 billion, a price-to-earnings ratio of 80.161 and a beta of 2.02.
MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, May 4th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.32. The firm had revenue of $273.90 million for the quarter, compared to the consensus estimate of $247.85 million. MercadoLibre had a return on equity of 41.12% and a net margin of 16.10%. The company’s revenue for the quarter was up 73.8% on a year-over-year basis. During the same period last year, the business posted $0.68 EPS. Equities analysts forecast that MercadoLibre will post $4.72 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Aperio Group LLC raised its position in shares of MercadoLibre by 53.0% in the second quarter. Aperio Group LLC now owns 2,420 shares of the company’s stock valued at $607,000 after buying an additional 838 shares during the period. Nisa Investment Advisors LLC acquired a new position in shares of MercadoLibre during the second quarter valued at about $1,018,000. Dixon Hubard Feinour & Brown Inc. VA acquired a new position in shares of MercadoLibre during the second quarter valued at about $226,000. Pier 88 Investment Partners LLC acquired a new position in shares of MercadoLibre during the second quarter valued at about $269,000. Finally, Ardevora Asset Management LLP acquired a new position in shares of MercadoLibre during the second quarter valued at about $42,599,000. Institutional investors and hedge funds own 91.32% 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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