Barclays PLC Reaffirms Overweight Rating for MercadoLibre, Inc. (MELI)
MercadoLibre, Inc. (NASDAQ:MELI)‘s stock had its “overweight” rating reiterated by analysts at Barclays PLC in a research report issued to clients and investors on Friday. They presently have a $275.00 target price on the stock, down from their prior target price of $290.00. Barclays PLC’s target price would suggest a potential upside of 9.16% from the stock’s current price.
MELI has been the subject of several other reports. J P Morgan Chase & Co downgraded MercadoLibre from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $296.24 to $300.00 in a research report on Tuesday, May 16th. Bank of America Corporation lifted their target price on MercadoLibre from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. Susquehanna Bancshares Inc reiterated a “market perform” rating and set a $275.00 target price on shares of MercadoLibre in a research report on Tuesday, August 1st. Credit Suisse Group lifted their target price on MercadoLibre from $260.00 to $290.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Finally, Citigroup Inc. downgraded MercadoLibre from a “buy” rating to a “neutral” rating and set a $280.00 target price for the company. in a research report on Friday, June 23rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. MercadoLibre has a consensus rating of “Hold” and an average target price of $261.69.
Shares of MercadoLibre (MELI) traded down 0.74% on Friday, hitting $250.06. 1,053,690 shares of the company traded hands. The firm’s 50 day moving average price is $271.82 and its 200-day moving average price is $238.35. The stock has a market capitalization of $11.04 billion, a price-to-earnings ratio of 71.40 and a beta of 2.05. MercadoLibre has a 1-year low of $148.98 and a 1-year high of $297.95.
MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by $0.45. The company had revenue of $316.53 million during the quarter, compared to the consensus estimate of $312.16 million. MercadoLibre had a return on equity of 37.59% and a net margin of 13.37%. The firm’s quarterly revenue was up 58.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 earnings per share. On average, equities research analysts expect that MercadoLibre will post $3.84 earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in MELI. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in shares of MercadoLibre during the first quarter valued at about $106,000. Pacer Advisors Inc. acquired a new stake in MercadoLibre during the second quarter worth $146,000. Van ECK Associates Corp increased its stake in MercadoLibre by 7.3% in the first quarter. Van ECK Associates Corp now owns 735 shares of the company’s stock worth $155,000 after buying an additional 50 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in MercadoLibre during the first quarter worth $169,000. Finally, Dixon Hubard Feinour & Brown Inc. VA acquired a new stake in MercadoLibre during the second quarter worth $226,000. 92.15% of the stock is owned by hedge funds and other institutional investors.
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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