Cowen and Company Analysts Give MercadoLibre SA (MELI) a $165.00 Price Target
MercadoLibre SA (NASDAQ:MELI) received a $165.00 target price from analysts at Cowen and Company in a research note issued to investors on Thursday. The brokerage presently has a a “hold” rating on the stock. Cowen and Company’s target price would indicate a potential downside of 9.94% from the company’s previous close.
A number of other equities analysts also recently issued reports on MELI. Piper Jaffray Cos. reissued a “buy” rating and set a $160.00 target price on shares of MercadoLibre SA in a research note on Friday, July 1st. Goldman Sachs Group Inc. initiated coverage on MercadoLibre SA in a research note on Tuesday, August 9th. They set a “neutral” rating and a $170.00 target price for the company. JPMorgan Chase & Co. raised MercadoLibre SA from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $173.68 to $200.00 in a research note on Friday, September 2nd. Zacks Investment Research raised MercadoLibre SA from a “hold” rating to a “strong-buy” rating and set a $212.00 target price for the company in a research note on Wednesday, October 5th. Finally, Stifel Nicolaus raised their price objective on MercadoLibre SA from $150.00 to $180.00 and gave the company a “hold” rating in a research note on Thursday, October 6th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $168.50.
Shares of MercadoLibre SA (NASDAQ:MELI) traded down 6.77% during trading on Thursday, hitting $170.80. The stock had a trading volume of 1,536,113 shares. The company has a market cap of $7.54 billion, a PE ratio of 57.70 and a beta of 2.08. MercadoLibre SA has a 12-month low of $84.19 and a 12-month high of $193.58. The stock’s 50 day moving average is $180.57 and its 200-day moving average is $149.15.
MercadoLibre SA (NASDAQ:MELI) last issued its earnings results on Thursday, August 4th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by $0.23. The business had revenue of $199.60 million for the quarter, compared to analysts’ expectations of $180.94 million. MercadoLibre SA had a return on equity of 38.04% and a net margin of 18.50%. The business’s quarterly revenue was up 29.4% on a year-over-year basis. During the same period last year, the company posted $0.44 earnings per share. Analysts forecast that MercadoLibre SA will post $2.76 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend is Wednesday, September 28th. MercadoLibre SA’s payout ratio is 20.34%.
In other MercadoLibre SA news, Director A Michael Spence sold 3,451 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $168.97, for a total transaction of $583,115.47. Following the completion of the transaction, the director now owns 6,903 shares of the company’s stock, valued at $1,166,399.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel Rabinovich sold 6,195 shares of the firm’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $166.61, for a total value of $1,032,148.95. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Creative Planning increased its position in MercadoLibre SA by 43.3% in the third quarter. Creative Planning now owns 1,614 shares of the company’s stock valued at $299,000 after buying an additional 488 shares during the last quarter. Harding Loevner LP acquired a new stake in MercadoLibre SA during the third quarter valued at about $93,392,000. Eqis Capital Management Inc. boosted its stake in MercadoLibre SA by 17.9% in the third quarter. Eqis Capital Management Inc. now owns 4,273 shares of the company’s stock valued at $790,000 after buying an additional 650 shares during the period. Macquarie Group Ltd. boosted its stake in MercadoLibre SA by 70.9% in the second quarter. Macquarie Group Ltd. now owns 21,019 shares of the company’s stock valued at $2,957,000 after buying an additional 8,719 shares during the period. Finally, IFP Advisors Inc boosted its stake in MercadoLibre SA by 8.8% in the second quarter. IFP Advisors Inc now owns 765 shares of the company’s stock valued at $108,000 after buying an additional 62 shares during the period. 74.01% of the stock is owned by institutional investors.
About MercadoLibre SA
MercadoLibre, Inc (MercadoLibre) hosts an online commerce platform in Latin America, which is focused on enabling e-commerce and its related services. The Company provides a portfolio of services facilitating e-commerce transactions. Its geographic segments are Brazil, Argentina, Mexico, Venezuela and other countries (including Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Portugal, Guatemala, Bolivia, Paraguay, Uruguay and the United States of America.
Receive News & Stock Ratings for MercadoLibre SA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MercadoLibre SA and related stocks with our FREE daily email newsletter.