Mercadolibre (MELI) Rating Reiterated by Goldman Sachs Group

Mercadolibre (NASDAQ:MELI)‘s stock had its “neutral” rating restated by research analysts at Goldman Sachs Group in a research report issued to clients and investors on Thursday. They presently have a $378.00 price objective on the stock, up from their prior price objective of $222.00. Goldman Sachs Group’s target price indicates a potential upside of 9.47% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Susquehanna Bancshares cut their target price on shares of Mercadolibre from $275.00 to $230.00 in a research note on Friday, October 13th. Stifel Nicolaus restated a “buy” rating and set a $415.00 target price (up previously from $350.00) on shares of Mercadolibre in a research note on Sunday, January 28th. Piper Jaffray Companies restated a “buy” rating and set a $268.00 target price on shares of Mercadolibre in a research note on Monday, October 23rd. KeyCorp restated a “buy” rating and set a $290.00 target price on shares of Mercadolibre in a research note on Tuesday, October 17th. Finally, BidaskClub upgraded shares of Mercadolibre from a “hold” rating to a “buy” rating in a research note on Thursday, December 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $307.58.

Mercadolibre (NASDAQ:MELI) traded up $1.76 during midday trading on Thursday, hitting $345.31. 1,020,000 shares of the stock were exchanged, compared to its average volume of 547,899. The company has a current ratio of 1.44, a quick ratio of 1.43 and a debt-to-equity ratio of 0.76. The firm has a market cap of $15,250.00, a PE ratio of 114.72, a PEG ratio of 4.59 and a beta of 2.15. Mercadolibre has a one year low of $190.07 and a one year high of $395.67.

In other Mercadolibre news, Director Alejandro Nicolas Aguzin purchased 10,000 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were acquired at an average cost of $274.47 per share, with a total value of $2,744,700.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $2,744,700. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.36% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Carmignac Gestion increased its holdings in Mercadolibre by 6.3% in the 3rd quarter. Carmignac Gestion now owns 2,426,208 shares of the company’s stock valued at $628,218,000 after buying an additional 144,451 shares during the period. Ameriprise Financial Inc. increased its holdings in Mercadolibre by 14.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,029,446 shares of the company’s stock valued at $266,559,000 after buying an additional 126,452 shares during the period. 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 valued at $962,000 after buying an additional 964,830 shares during the period. Jennison Associates LLC increased its holdings in Mercadolibre by 9.4% in the 4th quarter. Jennison Associates LLC now owns 831,137 shares of the company’s stock valued at $261,526,000 after buying an additional 71,206 shares during the period. Finally, Capital International Investors increased its holdings in Mercadolibre by 0.5% in the 3rd quarter. Capital International Investors now owns 722,239 shares of the company’s stock valued at $187,009,000 after buying an additional 3,441 shares during the period. 89.61% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: This report was posted by American Banking News and is the property of of American Banking News. If you are reading this report on another publication, it was copied illegally and republished in violation of US and international trademark and copyright law. The original version of this report can be viewed at https://www.americanbankingnews.com/2018/02/08/mercadolibre-meli-rating-reiterated-by-goldman-sachs-group.html.

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).

Analyst Recommendations for Mercadolibre (NASDAQ:MELI)

Receive News & Ratings for Mercadolibre Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mercadolibre and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply