Mercadolibre (MELI) Receives Neutral Rating from Goldman Sachs Group
Mercadolibre (NASDAQ:MELI)‘s stock had its “neutral” rating reissued by equities researchers at Goldman Sachs Group in a note issued to investors on Thursday. They currently have a $378.00 target price on the stock, up from their previous target price of $222.00. Goldman Sachs Group’s target price points to a potential upside of 10.27% from the stock’s current price.
Several other brokerages have also recently issued reports on MELI. Zacks Investment Research upgraded shares of Mercadolibre from a “hold” rating to a “buy” rating and set a $433.00 price target for the company in a research report on Wednesday, January 31st. Stifel Nicolaus restated a “buy” rating and issued a $415.00 price target (up from $350.00) on shares of Mercadolibre in a research report on Sunday, January 28th. BidaskClub cut shares of Mercadolibre from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Credit Suisse Group restated an “outperform” rating and issued a $385.00 price target (up from $380.00) on shares of Mercadolibre in a research report on Monday, January 8th. Finally, Deutsche Bank set a $335.00 price target on shares of Mercadolibre and gave the company a “hold” rating in a research report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $307.58.
Shares of Mercadolibre (NASDAQ MELI) traded down $0.75 during midday trading on Thursday, reaching $342.80. 142,290 shares of the company’s stock traded hands, compared to its average volume of 535,822. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.43 and a current ratio of 1.44. Mercadolibre has a 1 year low of $190.07 and a 1 year high of $395.67. The firm has a market cap of $15,170.00, a PE ratio of 114.40, a P/E/G ratio of 4.59 and a beta of 2.15.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Carmignac Gestion boosted its stake in Mercadolibre by 6.3% during the third quarter. Carmignac Gestion now owns 2,426,208 shares of the company’s stock worth $628,218,000 after acquiring an additional 144,451 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Mercadolibre by 14.0% during the third quarter. Ameriprise Financial Inc. now owns 1,029,446 shares of the company’s stock worth $266,559,000 after acquiring an additional 126,452 shares in the last quarter. Koch Industries Inc. boosted its stake in Mercadolibre by 85,458.8% during the second quarter. Koch Industries Inc. now owns 965,959 shares of the company’s stock worth $962,000 after acquiring an additional 964,830 shares in the last quarter. Jennison Associates LLC boosted its stake in Mercadolibre by 9.4% during the fourth quarter. Jennison Associates LLC now owns 831,137 shares of the company’s stock worth $261,526,000 after acquiring an additional 71,206 shares in the last quarter. Finally, Capital International Investors boosted its stake in Mercadolibre by 0.5% during the third quarter. Capital International Investors now owns 722,239 shares of the company’s stock worth $187,009,000 after acquiring an additional 3,441 shares in the last quarter. 89.61% of the stock is currently owned by institutional investors and hedge funds.
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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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