Barclays PLC Lowers MercadoLibre, Inc. (MELI) Price Target to $250.00
MercadoLibre, Inc. (NASDAQ:MELI) had its target price cut by stock analysts at Barclays PLC from $275.00 to $250.00 in a report released on Monday. The firm presently has an “overweight” rating on the stock. Barclays PLC’s target price suggests a potential upside of 4.03% from the company’s current price.
Several other equities research analysts have also issued reports on MELI. BidaskClub lowered MercadoLibre from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Stifel Nicolaus reissued a “hold” rating and set a $275.00 price objective (up previously from $260.00) on shares of MercadoLibre in a research note on Wednesday, August 9th. J P Morgan Chase & Co reissued a “neutral” rating and set a $270.00 price objective on shares of MercadoLibre in a research note on Wednesday, August 9th. Zacks Investment Research lowered MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Finally, Vetr raised MercadoLibre from a “buy” rating to a “strong-buy” rating and set a $316.69 price objective for the company in a research note on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $264.28.
Shares of MercadoLibre (NASDAQ MELI) opened at 240.31 on Monday. The company has a market capitalization of $10.61 billion, a P/E ratio of 73.65 and a beta of 2.03. The company’s 50 day moving average price is $259.66 and its 200 day moving average price is $261.60. MercadoLibre has a 12 month low of $148.98 and a 12 month high of $297.95.
MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.61 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.45). The business had revenue of $316.53 million for the quarter, compared to the consensus estimate of $312.16 million. MercadoLibre had a net margin of 13.37% and a return on equity of 37.59%. MercadoLibre’s quarterly revenue was up 58.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 EPS. Analysts expect that MercadoLibre will post $2.76 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in MercadoLibre by 15.7% during the 1st quarter. Bank of New York Mellon Corp now owns 26,826 shares of the company’s stock valued at $5,672,000 after purchasing an additional 3,646 shares during the period. Karp Capital Management Corp purchased a new position in MercadoLibre during the 1st quarter valued at about $335,000. Alliancebernstein L.P. purchased a new position in MercadoLibre during the 1st quarter valued at about $3,671,000. Wellington Management Group LLP increased its holdings in MercadoLibre by 279.5% during the 1st quarter. Wellington Management Group LLP now owns 54,137 shares of the company’s stock valued at $11,448,000 after purchasing an additional 39,873 shares during the period. Finally, Vanguard Group Inc. increased its holdings in MercadoLibre by 21.5% during the 1st quarter. Vanguard Group Inc. now owns 180,912 shares of the company’s stock valued at $38,258,000 after purchasing an additional 32,047 shares during the period. 83.92% of the stock is owned by institutional investors.
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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