Analysts predict that Mercadolibre Inc (NASDAQ:MELI) will report $0.55 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Mercadolibre’s earnings, with estimates ranging from $0.36 to $0.73. Mercadolibre posted earnings of $1.16 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 52.6%. The business is scheduled to issue its next quarterly earnings results after the market closes on Thursday, February 22nd.
According to Zacks, analysts expect that Mercadolibre will report full year earnings of $2.40 per share for the current year, with EPS estimates ranging from $2.20 to $2.58. For the next financial year, analysts expect that the firm will post earnings of $3.06 per share, with EPS estimates ranging from $2.41 to $3.65. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Mercadolibre.
Several analysts have issued reports on the company. Zacks Investment Research upgraded Mercadolibre from a “hold” rating to a “buy” rating and set a $433.00 price objective on the stock in a research note on Wednesday, January 31st. Stifel Nicolaus restated a “buy” rating and set a $415.00 price objective (up previously from $350.00) on shares of Mercadolibre in a research note on Sunday, January 28th. BidaskClub upgraded Mercadolibre from a “buy” rating to a “strong-buy” rating in a research note on Friday. Piper Jaffray Companies restated an “overweight” rating and set a $415.00 price objective on shares of Mercadolibre in a research note on Thursday. Finally, Goldman Sachs Group restated a “neutral” rating and set a $378.00 price objective (up previously from $222.00) on shares of Mercadolibre in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Mercadolibre currently has a consensus rating of “Buy” and an average price target of $320.62.
In related news, Director Alejandro Nicolas Aguzin acquired 10,000 shares of Mercadolibre stock in a transaction dated Monday, November 27th. The stock was acquired at an average cost of $274.47 per share, with a total value of $2,744,700.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $2,744,700. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.36% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Carmignac Gestion lifted its holdings in shares of Mercadolibre by 6.3% in the third quarter. Carmignac Gestion now owns 2,426,208 shares of the company’s stock valued at $628,218,000 after purchasing an additional 144,451 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Mercadolibre by 14.0% in the third quarter. Ameriprise Financial Inc. now owns 1,029,446 shares of the company’s stock valued at $266,559,000 after purchasing an additional 126,452 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Mercadolibre by 9.4% in the fourth quarter. Jennison Associates LLC now owns 831,137 shares of the company’s stock valued at $261,526,000 after purchasing an additional 71,206 shares in the last quarter. Capital International Investors lifted its holdings in shares of Mercadolibre by 0.5% in the third quarter. Capital International Investors now owns 722,239 shares of the company’s stock valued at $187,009,000 after purchasing an additional 3,441 shares in the last quarter. Finally, Whale Rock Capital Management LLC lifted its holdings in shares of Mercadolibre by 79.7% in the fourth quarter. Whale Rock Capital Management LLC now owns 333,839 shares of the company’s stock valued at $105,046,000 after purchasing an additional 148,085 shares in the last quarter. 88.49% of the stock is 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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