MercadoLibre, Inc. (MELI) Given New $250.00 Price Target at Barclays PLC
MercadoLibre, Inc. (NASDAQ:MELI) had its target price lowered by stock analysts at Barclays PLC from $275.00 to $250.00 in a research report issued on Monday. The firm presently has an “overweight” rating on the stock. Barclays PLC’s price objective indicates a potential upside of 6.49% from the stock’s previous close.
A number of other research analysts also recently issued reports on the stock. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $270.00 price objective on shares of MercadoLibre in a research report on Wednesday, August 9th. Vetr raised shares of MercadoLibre from a “buy” rating to a “strong-buy” rating and set a $316.69 price objective on the stock in a research report on Monday, August 7th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $287.00 price objective on shares of MercadoLibre in a research report on Thursday, July 13th. BidaskClub downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $275.00 price objective (up previously from $260.00) on shares of MercadoLibre in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. MercadoLibre presently has a consensus rating of “Buy” and an average target price of $264.28.
MercadoLibre (NASDAQ MELI) traded down 0.66% during midday trading on Monday, reaching $234.50. 694,452 shares of the company traded hands. The company has a 50 day moving average price of $261.62 and a 200-day moving average price of $260.99. The stock has a market capitalization of $10.35 billion, a P/E ratio of 71.87 and a beta of 2.04. MercadoLibre has a one year low of $148.98 and a one year high of $297.95.
MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 3rd. The company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.45). The business had revenue of $316.53 million for the quarter, compared to analysts’ expectations of $312.16 million. MercadoLibre had a net margin of 13.37% and a return on equity of 37.59%. The company’s revenue for the quarter was up 58.6% on a year-over-year basis. During the same period last year, the business posted $0.74 EPS. Analysts forecast that MercadoLibre will post $2.76 EPS for the current fiscal year.
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Large investors have recently bought and sold shares of the company. Orbis Allan Gray Ltd increased its holdings in MercadoLibre by 10.2% in the 2nd quarter. Orbis Allan Gray Ltd now owns 1,591,614 shares of the company’s stock worth $399,304,000 after acquiring an additional 146,891 shares in the last quarter. Koch Industries Inc. increased its holdings in MercadoLibre by 85,458.8% in the 2nd quarter. Koch Industries Inc. now owns 965,959 shares of the company’s stock worth $962,000 after acquiring an additional 964,830 shares in the last quarter. Jennison Associates LLC increased its holdings in MercadoLibre by 45.9% in the 2nd quarter. Jennison Associates LLC now owns 779,039 shares of the company’s stock worth $195,445,000 after acquiring an additional 245,213 shares in the last quarter. Harding Loevner LP increased its holdings in MercadoLibre by 1.7% in the 2nd quarter. Harding Loevner LP now owns 559,944 shares of the company’s stock worth $140,479,000 after acquiring an additional 9,564 shares in the last quarter. Finally, Capital World Investors increased its holdings in MercadoLibre by 48.6% in the 2nd quarter. Capital World Investors now owns 353,763 shares of the company’s stock worth $88,752,000 after acquiring an additional 115,663 shares in the last quarter. 83.92% of the stock is owned by hedge funds and other institutional investors.
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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