MercadoLibre, Inc. (MELI) Rating Reiterated by Goldman Sachs Group, Inc. (The)
MercadoLibre, Inc. (NASDAQ:MELI)‘s stock had its “neutral” rating reiterated by investment analysts at Goldman Sachs Group, Inc. (The) in a report issued on Tuesday. They presently have a $215.00 target price on the stock. Goldman Sachs Group, Inc. (The)’s target price would suggest a potential downside of 18.67% from the company’s previous close.
MELI has been the subject of a number of other research reports. Susquehanna Bancshares Inc reiterated a “market perform” rating and set a $275.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 1st. Barclays PLC reduced their target price on shares of MercadoLibre from $300.00 to $290.00 and set an “overweight” rating on the stock in a report on Wednesday, July 19th. Citigroup Inc. lowered shares of MercadoLibre from a “buy” rating to a “neutral” rating and set a $280.00 target price on the stock. in a report on Friday, June 23rd. Piper Jaffray Companies reaffirmed a “buy” rating and set a $287.00 price target on shares of MercadoLibre in a research note on Thursday, July 13th. Finally, BidaskClub raised shares of MercadoLibre from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $256.34.
Shares of MercadoLibre (MELI) traded up 0.27% during midday trading on Tuesday, hitting $264.36. 646,014 shares of the company were exchanged. The stock has a market capitalization of $11.67 billion, a price-to-earnings ratio of 81.02 and a beta of 2.04. The company has a 50-day moving average price of $261.12 and a 200-day moving average price of $257.06. MercadoLibre has a 52-week low of $148.98 and a 52-week high of $297.95.
MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.45). MercadoLibre had a return on equity of 37.59% and a net margin of 13.37%. The company had revenue of $316.53 million during the quarter, compared to analyst estimates of $312.16 million. During the same period last year, the firm earned $0.74 earnings per share. The business’s revenue was up 58.6% compared to the same quarter last year. On average, analysts forecast that MercadoLibre will post $3.01 EPS for the current year.
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A number of hedge funds have recently modified their holdings of MELI. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new position in MercadoLibre during the first quarter worth approximately $106,000. Toronto Dominion Bank boosted its holdings in shares of MercadoLibre by 18.4% in the 2nd quarter. Toronto Dominion Bank now owns 515 shares of the company’s stock valued at $129,000 after purchasing an additional 80 shares during the last quarter. Pacer Advisors Inc. acquired a new position in shares of MercadoLibre in the 2nd quarter valued at $146,000. Van ECK Associates Corp grew its stake in shares of MercadoLibre by 7.3% during the 1st quarter. Van ECK Associates Corp now owns 735 shares of the company’s stock valued at $155,000 after buying an additional 50 shares during the period. Finally, Ameritas Investment Partners Inc. purchased a new stake in shares of MercadoLibre during the 2nd quarter valued at $198,000. 85.84% 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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