KeyCorp Reiterates Buy Rating for MercadoLibre, Inc. (MELI)
MercadoLibre, Inc. (NASDAQ:MELI)‘s stock had its “buy” rating restated by stock analysts at KeyCorp in a research note issued to investors on Tuesday. They presently have a $290.00 price objective on the stock. KeyCorp’s target price indicates a potential upside of 24.45% from the company’s current price.
A number of other equities research analysts also recently weighed in on the company. Barclays PLC dropped their price objective on MercadoLibre from $300.00 to $290.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 19th. Susquehanna Bancshares Inc reaffirmed a “market perform” rating and set a $275.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 1st. Credit Suisse Group reaffirmed a “buy” rating and set a $290.00 price objective on shares of MercadoLibre in a research report on Friday, July 7th. BidaskClub raised MercadoLibre from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Finally, Citigroup Inc. raised MercadoLibre from a “sell” rating to a “buy” rating and raised their price objective for the company from $126.10 to $263.45 in a research report on Monday, June 19th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $259.05.
Shares of MercadoLibre (MELI) traded up 0.97% during mid-day trading on Tuesday, hitting $235.25. 392,418 shares of the stock were exchanged. MercadoLibre has a 12 month low of $148.98 and a 12 month high of $297.95. The stock’s 50 day moving average is $267.99 and its 200 day moving average is $260.51. The firm has a market cap of $10.39 billion, a P/E ratio of 72.10 and a beta of 2.04.
MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.45). MercadoLibre had a net margin of 13.37% and a return on equity of 37.59%. The company had revenue of $316.53 million for the quarter, compared to the consensus estimate of $312.16 million. During the same period in the previous year, the business earned $0.74 EPS. MercadoLibre’s revenue for the quarter was up 58.6% compared to the same quarter last year. Analysts expect that MercadoLibre will post $2.88 EPS for the current fiscal year.
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Several large investors have recently made changes to their positions in the company. Achmea Investment Management B.V. purchased a new position in shares of MercadoLibre in the second quarter worth about $408,000. Toronto Dominion Bank raised 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 purchasing an additional 80 shares during the last quarter. Archford Capital Strategies LLC raised its stake in shares of MercadoLibre by 74,180.0% in the second quarter. Archford Capital Strategies LLC now owns 7,428 shares of the company’s stock worth $484,000 after purchasing an additional 7,418 shares during the last quarter. Cookson Peirce & Co. Inc. raised its stake in shares of MercadoLibre by 0.9% in the second quarter. Cookson Peirce & Co. Inc. now owns 18,750 shares of the company’s stock worth $4,704,000 after purchasing an additional 170 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its stake in shares of MercadoLibre by 280.0% in the second quarter. Dynamic Technology Lab Private Ltd now owns 3,800 shares of the company’s stock worth $953,000 after purchasing an additional 2,800 shares during the last quarter. Hedge funds and other institutional investors own 85.94% 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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