MercadoLibre, Inc. (MELI) PT Lowered to $230.00
MercadoLibre, Inc. (NASDAQ:MELI) had its target price decreased by equities researchers at Susquehanna Bancshares Inc from $275.00 to $230.00 in a research report issued on Friday. Susquehanna Bancshares Inc’s price target would indicate a potential downside of 6.60% from the stock’s current price.
Several other equities analysts have also recently commented on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $275.00 price target on shares of MercadoLibre in a report on Wednesday, October 4th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $215.00 price target on shares of MercadoLibre in a report on Tuesday, October 3rd. BidaskClub cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $270.00 price target on shares of MercadoLibre in a report on Wednesday, August 9th. Finally, Zacks Investment Research cut shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 9th. Two investment 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 stock. The company currently has a consensus rating of “Hold” and an average price target of $256.67.
MercadoLibre (NASDAQ:MELI) traded up 1.30% during trading on Friday, reaching $249.45. The company’s stock had a trading volume of 626,345 shares. The firm has a market capitalization of $11.01 billion, a price-to-earnings ratio of 76.45 and a beta of 2.03. MercadoLibre has a 52-week low of $148.98 and a 52-week high of $297.95. The stock’s 50-day moving average is $267.34 and its 200 day moving average is $259.60.
MercadoLibre (NASDAQ:MELI) last released 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 for the quarter, compared to analyst estimates of $312.16 million. MercadoLibre had a net margin of 13.37% and a return on equity of 37.59%. MercadoLibre’s revenue for the quarter was up 58.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 EPS. On average, analysts predict that MercadoLibre will post $2.93 EPS for the current fiscal year.
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Institutional investors have recently bought and sold shares of the business. OLD Mutual Customised Solutions Proprietary Ltd. bought a new position in shares of MercadoLibre during the first quarter valued at about $106,000. Toronto Dominion Bank raised its stake in shares of MercadoLibre by 18.4% during the second quarter. Toronto Dominion Bank now owns 515 shares of the company’s stock valued at $129,000 after acquiring an additional 80 shares during the last quarter. Pacer Advisors Inc. bought a new position in shares of MercadoLibre during the second quarter valued at about $146,000. Van ECK Associates Corp raised its stake in shares of MercadoLibre by 7.3% during the first quarter. Van ECK Associates Corp now owns 735 shares of the company’s stock valued at $155,000 after acquiring an additional 50 shares during the last quarter. Finally, Ameritas Investment Partners Inc. bought a new position in shares of MercadoLibre during the second quarter valued at about $198,000. 85.84% of the stock is owned by institutional investors and hedge funds.
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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