MercadoLibre SA (NASDAQ:MELI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $212.00 price objective on the stock. Zacks Investment Research’s price target indicates a potential upside of 14.85% from the stock’s previous close.
According to Zacks, “MercadoLibre is the largest online trading platform in Latin America. We are market leaders in e-commerce in each of Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, Uruguay and Venezuela, based on unique visitors and page views. Additionally, we have recently launched online trading platforms in Costa Rica, the Dominican Republic and Panama. With a market of over Five fifty million people and a region with one of the world’s fastest-growing Internet penetration rates, we provide buyers and sellers a robust online trading environment that fosters the development of a large and growing e-commerce community. We offer a technological and commercial solution that addresses the distinctive cultural and geographic challenges of operating an online trading platform in Latin America. “
MELI has been the subject of several other reports. Piper Jaffray Cos. upped their target price on MercadoLibre SA from $160.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, August 5th. Goldman Sachs Group Inc. assumed coverage on MercadoLibre SA in a report on Tuesday, August 9th. They set a “neutral” rating and a $170.00 target price for the company. Finally, JPMorgan Chase & Co. raised MercadoLibre SA from a “neutral” rating to an “overweight” rating and upped their target price for the company from $173.68 to $200.00 in a report on Friday, September 2nd. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $160.43.
MercadoLibre SA (NASDAQ:MELI) opened at 184.59 on Wednesday. MercadoLibre SA has a 12-month low of $84.19 and a 12-month high of $191.76. The firm has a market capitalization of $8.15 billion, a PE ratio of 62.36 and a beta of 2.08. The stock has a 50 day moving average price of $177.26 and a 200-day moving average price of $146.50.
MercadoLibre SA (NASDAQ:MELI) last posted its earnings results on Thursday, August 4th. The company reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by $0.23. The company had revenue of $199.60 million for the quarter, compared to the consensus estimate of $180.94 million. MercadoLibre SA had a net margin of 18.50% and a return on equity of 38.04%. The firm’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same period last year, the company posted $0.44 earnings per share. On average, equities research analysts forecast that MercadoLibre SA will post $2.73 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Wednesday, September 28th. MercadoLibre SA’s dividend payout ratio (DPR) is 20.34%.
In other MercadoLibre SA news, EVP Daniel Rabinovich sold 6,195 shares of the stock in a transaction on Friday, August 19th. The stock was sold at an average price of $166.61, for a total transaction of $1,032,148.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director A Michael Spence sold 3,451 shares of the stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $168.97, for a total value of $583,115.47. Following the transaction, the director now directly owns 6,903 shares of the company’s stock, valued at $1,166,399.91. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the stock. Pillar Pacific Capital Management LLC raised its position in shares of MercadoLibre SA by 0.4% in the second quarter. Pillar Pacific Capital Management LLC now owns 2,715 shares of the company’s stock worth $382,000 after buying an additional 10 shares during the last quarter. Wedbush Securities Inc. raised its position in shares of MercadoLibre SA by 1.3% in the second quarter. Wedbush Securities Inc. now owns 3,109 shares of the company’s stock worth $437,000 after buying an additional 39 shares during the last quarter. IFP Advisors Inc raised its position in shares of MercadoLibre SA by 8.8% in the second quarter. IFP Advisors Inc now owns 765 shares of the company’s stock worth $108,000 after buying an additional 62 shares during the last quarter. Zacks Investment Management raised its position in shares of MercadoLibre SA by 3.0% in the second quarter. Zacks Investment Management now owns 2,575 shares of the company’s stock worth $362,000 after buying an additional 74 shares during the last quarter. Finally, Creative Planning raised its position in shares of MercadoLibre SA by 18.4% in the second quarter. Creative Planning now owns 1,126 shares of the company’s stock worth $158,000 after buying an additional 175 shares during the last quarter. 74.01% of the stock is owned by hedge funds and other institutional investors.
MercadoLibre SA Company Profile
MercadoLibre, Inc (MercadoLibre) hosts an online commerce platform in Latin America, which is focused on enabling e-commerce and its related services. The Company provides a portfolio of services facilitating e-commerce transactions. Its geographic segments are Brazil, Argentina, Mexico, Venezuela and other countries (including Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Portugal, Guatemala, Bolivia, Paraguay, Uruguay and the United States of America.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for MercadoLibre SA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MercadoLibre SA and related companies with MarketBeat.com's FREE daily email newsletter.