Mercadolibre (MELI) Price Target Raised to $375.00

Mercadolibre (NASDAQ:MELI) had its target price upped by Barclays from $365.00 to $375.00 in a report published on Thursday, The Fly reports. They currently have an overweight rating on the stock.

MELI has been the subject of several other research reports. Zacks Investment Research downgraded shares of Mercadolibre from a hold rating to a sell rating in a research report on Tuesday, July 31st. Piper Jaffray Companies boosted their target price on shares of Mercadolibre to $376.00 and gave the stock an overweight rating in a research report on Tuesday, July 31st. KeyCorp raised shares of Mercadolibre from a sector weight rating to an overweight rating and set a $350.00 target price for the company in a research report on Monday, June 25th. Credit Suisse Group boosted their price objective on shares of Mercadolibre from $380.00 to $425.00 and gave the company an outperform rating in a research report on Monday, July 16th. Finally, Cowen reaffirmed a hold rating and set a $373.00 price objective on shares of Mercadolibre in a research report on Tuesday, April 17th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $356.92.

Mercadolibre traded down $12.04, hitting $372.35, during midday trading on Thursday, MarketBeat.com reports. 986,389 shares of the stock were exchanged, compared to its average volume of 881,727. Mercadolibre has a 1 year low of $217.06 and a 1 year high of $417.91. The company has a market capitalization of $16.97 billion, a price-to-earnings ratio of 1,325.48 and a beta of 2.04. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.18 and a quick ratio of 1.18.



Mercadolibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.04). Mercadolibre had a positive return on equity of 3.75% and a negative net margin of 4.39%. The firm had revenue of $335.40 million for the quarter, compared to analysts’ expectations of $333.98 million. During the same period last year, the firm earned $0.61 EPS. The business’s quarterly revenue was up 18.1% on a year-over-year basis. analysts forecast that Mercadolibre will post -0.11 earnings per share for the current fiscal year.

In other news, Director Meyer Malka bought 16,500 shares of Mercadolibre stock in a transaction on Tuesday, June 12th. The stock was purchased at an average cost of $301.40 per share, with a total value of $4,973,100.00. Following the purchase, the director now directly owns 1,708 shares of the company’s stock, valued at approximately $514,791.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have acquired a total of 34,726 shares of company stock valued at $10,451,306 over the last three months. 0.32% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. TIAA CREF Investment Management LLC raised its holdings in shares of Mercadolibre by 66.2% during the fourth quarter. TIAA CREF Investment Management LLC now owns 11,801 shares of the company’s stock valued at $3,713,000 after acquiring an additional 4,700 shares during the period. Wasatch Advisors Inc. raised its holdings in shares of Mercadolibre by 4.3% during the first quarter. Wasatch Advisors Inc. now owns 90,911 shares of the company’s stock valued at $32,400,000 after acquiring an additional 3,745 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Mercadolibre by 109.6% during the first quarter. Daiwa Securities Group Inc. now owns 2,683 shares of the company’s stock valued at $956,000 after acquiring an additional 1,403 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Mercadolibre by 233.2% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 15,858 shares of the company’s stock valued at $5,652,000 after acquiring an additional 11,099 shares during the period. Finally, Westpac Banking Corp raised its holdings in shares of Mercadolibre by 11.4% during the first quarter. Westpac Banking Corp now owns 27,793 shares of the company’s stock valued at $9,905,000 after acquiring an additional 2,853 shares during the period. 87.71% of the stock is owned by hedge funds and other institutional investors.

About Mercadolibre

MercadoLibre, Inc hosts online commerce platforms in Latin America. It offers MercadoLibre Marketplace, an automated online commerce service for businesses and individuals to list items and conduct their sales and purchases online in a fixed-price or auction-based format. The company's Marketplace platform enables commerce through online classifieds for motor vehicles, vessels, aircraft, services, and real estate; and Internet users to browse through various products that are listed on its Website and to register with MercadoLibre to list and purchase items and services.

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