Goldman Sachs Group, Inc. (The) Reiterates Neutral Rating for MercadoLibre, Inc. (MELI)
MercadoLibre, Inc. (NASDAQ:MELI)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Goldman Sachs Group, Inc. (The) in a research note issued to investors on Tuesday. They presently have a $215.00 price objective on the stock. Goldman Sachs Group, Inc. (The)’s target price indicates a potential downside of 18.67% from the company’s current price.
MELI has been the topic of a number of other reports. BidaskClub lowered MercadoLibre from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. Zacks Investment Research lowered shares of MercadoLibre from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Vetr upgraded MercadoLibre from a “buy” rating to a “strong-buy” rating and set a $316.69 target price on the stock in a report on Monday, August 7th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $287.00 price target on shares of MercadoLibre in a research report on Thursday, July 13th. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $270.00 target price on shares of MercadoLibre in a research report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $256.34.
MercadoLibre (NASDAQ:MELI) traded up 0.27% on Tuesday, hitting $264.36. The stock had a trading volume of 646,014 shares. The company’s 50-day moving average is $261.12 and its 200-day moving average is $257.06. The stock has a market cap of $11.67 billion, a P/E ratio of 81.02 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 announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.45). MercadoLibre had a net margin of 13.37% and a return on equity of 37.59%. The firm had revenue of $316.53 million during the quarter, compared to the consensus estimate of $312.16 million. During the same period in the prior year, the firm earned $0.74 earnings per share. The firm’s quarterly revenue was up 58.6% compared to the same quarter last year. On average, analysts anticipate that MercadoLibre will post $3.01 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of MELI. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new stake in shares of MercadoLibre in the first quarter worth $106,000. Toronto Dominion Bank boosted its stake in MercadoLibre by 18.4% during the second quarter. Toronto Dominion Bank now owns 515 shares of the company’s stock valued at $129,000 after buying an additional 80 shares during the period. Pacer Advisors Inc. purchased a new position in MercadoLibre during the second quarter worth about $146,000. Van ECK Associates Corp grew its position in MercadoLibre by 7.3% during the first quarter. Van ECK Associates Corp now owns 735 shares of the company’s stock worth $155,000 after buying an additional 50 shares in the last quarter. Finally, Ameritas Investment Partners Inc. purchased a new position in MercadoLibre during the second quarter worth about $198,000. Institutional investors and hedge funds own 85.84% of the company’s stock.
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).
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