Mercadolibre (NASDAQ:MELI) received a $651.00 price target from Cowen in a note issued to investors on Monday, TipRanks reports. The firm presently has a “hold” rating on the stock. Cowen’s target price points to a potential upside of 4.38% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Deutsche Bank raised their target price on shares of Mercadolibre from $600.00 to $725.00 and gave the stock a “buy” rating in a research report on Tuesday. Susquehanna Bancshares raised shares of Mercadolibre from a “negative” rating to a “neutral” rating in a research report on Friday, May 3rd.
BidaskClub cut shares of Mercadolibre from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Barclays raised their target price on shares of Mercadolibre from $615.00 to $730.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Finally, Citigroup raised shares of Mercadolibre from a “neutral” rating to a “buy” rating and raised their target price for the stock from $609.00 to $729.00 in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. Mercadolibre currently has a consensus rating of “Buy” and an average target price of $620.63.
Shares of NASDAQ MELI traded down $13.91 during midday trading on Monday, reaching $623.66. 353,464 shares of the stock were exchanged, compared to its average volume of 613,382. The stock has a market capitalization of $34.03 billion, a P/E ratio of -760.56 and a beta of 1.76. Mercadolibre has a 52-week low of $257.52 and a 52-week high of $698.98. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.82 and a quick ratio of 2.82. The stock’s 50 day simple moving average is $633.80.
Mercadolibre (NASDAQ:MELI) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. Mercadolibre had a net margin of 0.87% and a return on equity of 1.62%. The business had revenue of $545.24 million during the quarter, compared to the consensus estimate of $507.68 million. During the same period in the previous year, the firm posted ($0.25) earnings per share. The company’s quarterly revenue was up 62.6% compared to the same quarter last year. Research analysts predict that Mercadolibre will post 0.79 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the business. Harvest Group Wealth Management LLC acquired a new position in Mercadolibre during the first quarter valued at approximately $28,000. NEXT Financial Group Inc lifted its position in Mercadolibre by 104.3% during the second quarter. NEXT Financial Group Inc now owns 47 shares of the company’s stock valued at $29,000 after buying an additional 24 shares in the last quarter. Icon Wealth Partners LLC acquired a new position in Mercadolibre during the first quarter valued at approximately $32,000. CENTRAL TRUST Co lifted its position in Mercadolibre by 62.5% during the second quarter. CENTRAL TRUST Co now owns 52 shares of the company’s stock valued at $33,000 after buying an additional 20 shares in the last quarter. Finally, Carroll Financial Associates Inc. lifted its position in Mercadolibre by 59.5% during the first quarter. Carroll Financial Associates Inc. now owns 67 shares of the company’s stock valued at $34,000 after buying an additional 25 shares in the last quarter. 84.06% of the stock is currently owned by hedge funds and other institutional investors.
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.
Further Reading: Average Daily Trade Volume Explained
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