MercadoLibre, Inc. (MELI) Rating Increased to Buy at Stifel Nicolaus
MercadoLibre, Inc. (NASDAQ:MELI) was upgraded by analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The firm currently has a $275.00 target price on the stock. Stifel Nicolaus’ target price points to a potential upside of 11.60% from the company’s current price.
Several other research analysts also recently commented on MELI. Credit Suisse Group lifted their target price on MercadoLibre from $260.00 to $290.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. Susquehanna Bancshares Inc reiterated a “neutral” rating and set a $275.00 target price (up from $213.00) on shares of MercadoLibre in a research note on Tuesday, May 9th. BidaskClub downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research note on Wednesday, June 28th. J P Morgan Chase & Co reiterated a “neutral” rating and set a $270.00 target price on shares of MercadoLibre in a research note on Wednesday, August 9th. Finally, Goldman Sachs Group, Inc. (The) downgraded MercadoLibre from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $309.00 to $290.00 in a research note on Tuesday, June 13th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $261.69.
MercadoLibre (NASDAQ:MELI) opened at 246.41 on Friday. The stock has a market cap of $10.88 billion, a price-to-earnings ratio of 75.52 and a beta of 2.05. The company has a 50-day moving average of $263.14 and a 200 day moving average of $244.72. MercadoLibre has a 12-month low of $148.98 and a 12-month high of $297.95.
MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.45. The company had revenue of $316.53 million during the quarter, compared to the consensus estimate of $312.16 million. MercadoLibre had a net margin of 13.37% and a return on equity of 37.59%. The firm’s revenue for the quarter was up 58.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 earnings per share. Equities analysts anticipate that MercadoLibre will post $3.22 earnings per share for the current year.
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Hedge funds have recently added to or reduced their stakes in the stock. Orbis Allan Gray Ltd increased its stake in MercadoLibre by 10.2% in the second quarter. Orbis Allan Gray Ltd now owns 1,591,614 shares of the company’s stock valued at $399,304,000 after buying an additional 146,891 shares during the period. Koch Industries Inc. increased its stake in MercadoLibre by 85,458.8% in the second 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 stake in MercadoLibre by 45.9% in the second quarter. Jennison Associates LLC now owns 779,039 shares of the company’s stock valued at $195,445,000 after buying an additional 245,213 shares during the period. Clearbridge Investments LLC increased its stake in MercadoLibre by 25.2% in the first quarter. Clearbridge Investments LLC now owns 570,066 shares of the company’s stock valued at $120,552,000 after buying an additional 114,824 shares during the period. Finally, William Blair Investment Management LLC increased its stake in MercadoLibre by 19.3% in the first quarter. William Blair Investment Management LLC now owns 563,518 shares of the company’s stock valued at $119,167,000 after buying an additional 91,256 shares during the period. Institutional investors and hedge funds own 92.41% of the company’s stock.
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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