Mercadolibre Inc (NASDAQ:MELI) had its target price increased by Credit Suisse Group AG from $260.00 to $290.00 in a report released on Monday morning, StockTargetPrices.com reports. Credit Suisse Group AG currently has an outperform rating on the stock.
A number of other research analysts also recently weighed in on the company. JPMorgan Chase & Co. set a $250.00 target price on Mercadolibre and gave the stock a buy rating in a report on Monday, March 20th. Barclays PLC started coverage on Mercadolibre in a report on Tuesday, March 28th. They set an overweight rating and a $250.00 target price on the stock. Bank of America Corp upgraded Mercadolibre from a neutral rating to a buy rating and set a $210.00 target price on the stock in a report on Monday, January 30th. Zacks Investment Research upgraded Mercadolibre from a hold rating to a buy rating and set a $207.00 target price on the stock in a report on Wednesday, February 1st. Finally, Susquehanna Bancshares Inc reiterated a neutral rating and set a $275.00 target price (up previously from $213.00) on shares of Mercadolibre in a report on Tuesday, May 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $228.75.
Shares of Mercadolibre (NASDAQ:MELI) traded up 0.44% during midday trading on Monday, reaching $272.01. The company’s stock had a trading volume of 284,547 shares. The stock has a market cap of $12.01 billion, a price-to-earnings ratio of 77.67 and a beta of 2.17. Mercadolibre has a 52-week low of $126.10 and a 52-week high of $297.95. The stock has a 50-day moving average price of $239.93 and a 200-day moving average price of $195.61.
Mercadolibre (NASDAQ:MELI) last posted its earnings results on Thursday, May 4th. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.32. Mercadolibre had a return on equity of 38.86% and a net margin of 16.13%. The firm had revenue of $273.90 million for the quarter, compared to the consensus estimate of $247.85 million. During the same quarter in the prior year, the business earned $0.68 EPS. The business’s revenue for the quarter was up 73.8% on a year-over-year basis. Equities research analysts anticipate that Mercadolibre will post $4.75 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $0.60 annualized dividend and a dividend yield of 0.22%. Mercadolibre’s payout ratio is currently 21.43%.
In related news, VP Stelleo Tolda sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $211.00, for a total value of $422,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.36% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Baillie Gifford & Co. increased its stake in Mercadolibre by 1.6% in the fourth quarter. Baillie Gifford & Co. now owns 6,378,243 shares of the company’s stock valued at $995,898,000 after buying an additional 101,904 shares during the last quarter. Orbis Allan Gray Ltd increased its stake in Mercadolibre by 105.1% in the fourth quarter. Orbis Allan Gray Ltd now owns 1,360,358 shares of the company’s stock valued at $212,407,000 after buying an additional 697,057 shares during the last quarter. William Blair Investment Management LLC increased its stake in Mercadolibre by 19.3% in the first quarter. William Blair Investment Management LLC now owns 563,518 shares of the company’s stock valued at $119,167,000 after buying an additional 91,256 shares during the last quarter. Harding Loevner LP increased its stake in Mercadolibre by 2.5% in the first quarter. Harding Loevner LP now owns 550,380 shares of the company’s stock valued at $116,389,000 after buying an additional 13,200 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Mercadolibre by 34.4% in the third quarter. Wells Fargo & Company MN now owns 522,770 shares of the company’s stock valued at $96,698,000 after buying an additional 133,895 shares during the last quarter. Institutional investors own 76.61% of the company’s stock.
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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