Mercadolibre (NASDAQ:MELI)‘s stock had its “overweight” rating reiterated by investment analysts at Piper Jaffray Companies in a research report issued on Thursday. They currently have a $415.00 target price on the stock. Piper Jaffray Companies’ price objective points to a potential upside of 10.46% from the stock’s current price.
Several other brokerages have also weighed in on MELI. Zacks Investment Research raised Mercadolibre from a “hold” rating to a “buy” rating and set a $433.00 price objective for the company in a report on Wednesday, January 31st. Stifel Nicolaus reissued a “buy” rating and issued a $415.00 price objective (up previously from $350.00) on shares of Mercadolibre in a report on Sunday, January 28th. Goldman Sachs Group reissued a “neutral” rating and issued a $378.00 price objective (up previously from $222.00) on shares of Mercadolibre in a report on Thursday, February 8th. BidaskClub lowered Mercadolibre from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 8th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $385.00 price objective (up previously from $380.00) on shares of Mercadolibre in a report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Mercadolibre has a consensus rating of “Buy” and an average price target of $313.25.
Shares of Mercadolibre (NASDAQ:MELI) opened at $375.71 on Thursday. Mercadolibre has a twelve month low of $190.07 and a twelve month high of $395.67. The firm has a market capitalization of $16,184.11, a PE ratio of 124.82, a P/E/G ratio of 4.80 and a beta of 2.15. The company has a quick ratio of 1.43, a current ratio of 1.44 and a debt-to-equity ratio of 0.76.
Hedge funds and other institutional investors have recently modified their holdings of the company. Fieldpoint Private Securities LLC bought a new stake in Mercadolibre in the 3rd quarter worth approximately $104,000. Smithfield Trust Co. lifted its position in Mercadolibre by 1,025.0% in the 3rd quarter. Smithfield Trust Co. now owns 450 shares of the company’s stock worth $116,000 after buying an additional 410 shares during the last quarter. Dumac Inc. lifted its position in Mercadolibre by 105.6% in the 4th quarter. Dumac Inc. now owns 370 shares of the company’s stock worth $116,000 after buying an additional 190 shares during the last quarter. Toronto Dominion Bank lifted its position in Mercadolibre by 18.4% in the 2nd quarter. Toronto Dominion Bank now owns 515 shares of the company’s stock worth $129,000 after buying an additional 80 shares during the last quarter. Finally, Financial Gravity Companies Inc. bought a new stake in Mercadolibre in the 4th quarter worth approximately $140,000. 89.21% of the stock is owned by institutional investors.
Mercadolibre Company Profile
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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