Susquehanna Bancshares Inc Reiterates Market Perform Rating for MercadoLibre, Inc. (NASDAQ:MELI)
MercadoLibre, Inc. (NASDAQ:MELI)‘s stock had its “market perform” rating reaffirmed by research analysts at Susquehanna Bancshares Inc in a research report issued on Tuesday, August 1st. They currently have a $275.00 price objective on the stock. Susquehanna Bancshares Inc’s price objective indicates a potential upside of 14.51% from the stock’s current price.
Other analysts also recently issued reports about the stock. Citigroup Inc. raised shares of MercadoLibre from a “sell” rating to a “buy” rating and increased their price target for the company from $126.10 to $263.45 in a report on Monday, June 19th. Barclays PLC reissued a “buy” rating and issued a $275.00 price target on shares of MercadoLibre in a report on Sunday, May 7th. Bank of America Corporation increased their price target on shares of MercadoLibre from $300.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, May 25th. Piper Jaffray Companies reissued a “buy” rating and issued a $287.00 price target on shares of MercadoLibre in a report on Thursday, July 13th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $290.00 price target on shares of MercadoLibre in a report on Friday, July 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $261.69.
MercadoLibre (NASDAQ:MELI) traded up 3.23% during midday trading on Tuesday, hitting $240.16. 1,296,824 shares of the stock traded hands. The company has a 50-day moving average of $268.13 and a 200-day moving average of $240.85. MercadoLibre has a 1-year low of $148.98 and a 1-year high of $297.95. The stock has a market cap of $10.60 billion, a PE ratio of 73.60 and a beta of 2.05.
MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $312.16 million. During the same period last year, the company earned $0.74 earnings per share. MercadoLibre’s revenue for the quarter was up 58.6% on a year-over-year basis. On average, equities analysts expect that MercadoLibre will post $3.30 EPS for the current fiscal year.
Several large investors have recently made changes to their positions in MELI. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new stake in shares of MercadoLibre during the first quarter worth about $106,000. Pacer Advisors Inc. purchased a new stake in shares of MercadoLibre during the second quarter worth about $146,000. Van ECK Associates Corp boosted its stake in shares of MercadoLibre by 7.3% in 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 during the period. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of MercadoLibre during the first quarter worth about $169,000. Finally, Dixon Hubard Feinour & Brown Inc. VA purchased a new stake in shares of MercadoLibre during the second quarter worth about $226,000. Institutional investors and hedge funds own 92.15% 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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