Mercadolibre (MELI) Price Target Raised to $330.00
Mercadolibre (NASDAQ:MELI) had its price target boosted by Piper Jaffray Companies from $268.00 to $330.00 in a note issued to investors on Wednesday, Marketbeat.com reports. The firm presently has an “overweight” rating on the stock. Piper Jaffray Companies’ price target points to a potential upside of 3.47% from the company’s current price.
Several other research analysts have also recently weighed in on MELI. Stifel Nicolaus upgraded Mercadolibre from a “hold” rating to a “buy” rating and set a $275.00 price target for the company in a research report on Friday, August 25th. Goldman Sachs Group reiterated a “neutral” rating and set a $215.00 price target on shares of Mercadolibre in a research report on Tuesday, October 3rd. Susquehanna Bancshares reduced their price target on Mercadolibre from $275.00 to $230.00 in a research report on Friday, October 13th. KeyCorp reiterated a “buy” rating and set a $290.00 price target on shares of Mercadolibre in a research report on Tuesday, October 17th. Finally, Barclays reduced their price target on Mercadolibre from $275.00 to $250.00 and set an “overweight” rating for the company in a research report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $275.98.
Shares of Mercadolibre (MELI) traded up $23.82 during mid-day trading on Wednesday, reaching $318.94. The company had a trading volume of 1,739,626 shares, compared to its average volume of 650,513. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.43 and a current ratio of 1.44. The stock has a market capitalization of $12,752.65, a PE ratio of 82.51, a P/E/G ratio of 4.77 and a beta of 2.05. Mercadolibre has a 52 week low of $150.29 and a 52 week high of $321.54.
Mercadolibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.07. The company had revenue of $370.66 million during the quarter, compared to analysts’ expectations of $347.29 million. Mercadolibre had a return on equity of 34.78% and a net margin of 10.91%. Mercadolibre’s quarterly revenue was up 60.6% on a year-over-year basis. During the same period last year, the business earned $0.88 earnings per share. research analysts anticipate that Mercadolibre will post 2.42 EPS for the current year.
In other Mercadolibre news, Director Alejandro Nicolas Aguzin acquired 10,000 shares of the company’s stock in a transaction on Monday, November 27th. The shares were bought at an average cost of $274.47 per share, with a total value of $2,744,700.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at $2,744,700. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.36% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Fieldpoint Private Securities LLC acquired a new stake in shares of Mercadolibre in the third quarter worth approximately $104,000. Smithfield Trust Co. boosted its stake in shares of Mercadolibre by 1,025.0% in the third quarter. Smithfield Trust Co. now owns 450 shares of the company’s stock worth $116,000 after acquiring an additional 410 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Mercadolibre by 18.4% in the second quarter. Toronto Dominion Bank now owns 515 shares of the company’s stock worth $129,000 after acquiring an additional 80 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Mercadolibre in the second quarter worth approximately $146,000. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Mercadolibre in the second quarter worth approximately $198,000. 89.60% of the stock is currently owned by institutional investors.
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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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