Mercadolibre (MELI) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of Mercadolibre (NASDAQ:MELI) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.

Several other equities research analysts have also recently commented on MELI. Stifel Nicolaus raised Mercadolibre from a hold rating to a buy rating and set a $275.00 price target for the company in a report on Friday, August 25th. Goldman Sachs Group reaffirmed a neutral rating and issued a $215.00 price target on shares of Mercadolibre in a report on Tuesday, October 3rd. Susquehanna Bancshares cut their price target on Mercadolibre from $275.00 to $230.00 in a report on Friday, October 13th. KeyCorp reaffirmed a buy rating and issued a $290.00 price target on shares of Mercadolibre in a report on Tuesday, October 17th. Finally, Piper Jaffray Companies reaffirmed a buy rating and issued a $268.00 price target on shares of Mercadolibre in a report on Monday, October 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and an average price target of $275.98.

Mercadolibre (NASDAQ MELI) traded down $2.10 during midday trading on Thursday, hitting $318.91. The stock had a trading volume of 861,978 shares, compared to its average volume of 667,108. The stock has a market capitalization of $14,082.11, a P/E ratio of 91.12, a PEG ratio of 5.26 and a beta of 2.05. Mercadolibre has a 1-year low of $150.29 and a 1-year high of $329.00. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.43 and a current ratio of 1.44.

Mercadolibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.56 by $0.07. Mercadolibre had a return on equity of 34.78% and a net margin of 10.91%. The firm had revenue of $370.66 million during the quarter, compared to analysts’ expectations of $347.29 million. During the same quarter last year, the firm earned $0.88 earnings per share. The business’s revenue for the quarter was up 60.6% on a year-over-year basis. research analysts forecast that Mercadolibre will post 2.42 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Sunday, December 31st will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.60 annualized dividend and a yield of 0.19%. Mercadolibre’s dividend payout ratio (DPR) is 19.93%.

In other Mercadolibre news, Director Alejandro Nicolas Aguzin bought 10,000 shares of the business’s stock in a transaction on Monday, November 27th. The stock was bought at an average price of $274.47 per share, with a total value of $2,744,700.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $2,744,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.36% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MELI. Fieldpoint Private Securities LLC purchased a new position in shares of Mercadolibre during the third quarter worth $104,000. Smithfield Trust Co. boosted its position in shares of Mercadolibre by 1,025.0% during the third quarter. Smithfield Trust Co. now owns 450 shares of the company’s stock worth $116,000 after buying an additional 410 shares during the period. Toronto Dominion Bank boosted its position in shares of Mercadolibre by 18.4% during the second quarter. Toronto Dominion Bank now owns 515 shares of the company’s stock worth $129,000 after buying an additional 80 shares during the period. Pacer Advisors Inc. purchased a new position in shares of Mercadolibre during the second quarter worth $146,000. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of Mercadolibre during the second quarter worth $198,000. Institutional investors and hedge funds own 89.60% of the company’s stock.

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About Mercadolibre

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).

Analyst Recommendations for Mercadolibre (NASDAQ:MELI)

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