Mercadolibre’s (NASDAQ:MELI) “Outperform” Rating Reaffirmed at Credit Suisse Group

Credit Suisse Group restated their outperform rating on shares of Mercadolibre (NASDAQ:MELI) in a research report report published on Monday, January 8th, Marketbeat.com reports. The brokerage currently has a $385.00 price target on the stock, up from their prior price target of $380.00.

Several other research firms have also commented on MELI. Deutsche Bank set a $335.00 price target on shares of Mercadolibre and gave the stock a hold rating in a research report on Thursday, January 4th. Goldman Sachs Group restated a neutral rating and set a $215.00 price target on shares of Mercadolibre in a research report on Tuesday, October 3rd. Barclays lowered their price target on shares of Mercadolibre from $275.00 to $250.00 and set an overweight rating for the company in a research report on Monday, October 30th. Citigroup lowered shares of Mercadolibre from a neutral rating to a sell rating and set a $230.00 price target for the company. in a research report on Wednesday, December 20th. Finally, Stifel Nicolaus reiterated a buy rating and issued a $275.00 target price on shares of Mercadolibre in a research report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Mercadolibre has a consensus rating of Buy and a consensus target price of $276.98.

Shares of Mercadolibre (NASDAQ:MELI) opened at $342.47 on Monday. The firm has a market cap of $15,122.57, a price-to-earnings ratio of 113.78, a price-to-earnings-growth ratio of 4.78 and a beta of 2.05. Mercadolibre has a twelve month low of $172.85 and a twelve month high of $344.52. The company has a current ratio of 1.44, a quick ratio of 1.43 and a debt-to-equity ratio of 0.76.

Mercadolibre (NASDAQ:MELI) last issued its earnings results on Thursday, November 2nd. The company reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.07. The company had revenue of $370.66 million for the quarter, compared to analysts’ expectations of $347.29 million. Mercadolibre had a net margin of 10.91% and a return on equity of 34.78%. The firm’s revenue was up 60.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.88 earnings per share. sell-side analysts anticipate that Mercadolibre will post 2.42 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Sunday, December 31st will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date of this dividend is Thursday, December 28th. Mercadolibre’s dividend payout ratio (DPR) is 19.93%.

In related news, Director Alejandro Nicolas Aguzin purchased 10,000 shares of Mercadolibre stock in a transaction dated Monday, November 27th. The stock was acquired at an average cost of $274.47 per share, with a total value of $2,744,700.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $2,744,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.36% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Fieldpoint Private Securities LLC acquired a new position in Mercadolibre in the third quarter worth approximately $104,000. Smithfield Trust Co. increased its holdings in Mercadolibre by 1,025.0% in 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 last quarter. Toronto Dominion Bank increased its holdings in Mercadolibre by 18.4% in 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 last quarter. Pacer Advisors Inc. acquired a new position in Mercadolibre in the second quarter worth approximately $146,000. Finally, Ameritas Investment Partners Inc. acquired a new position in Mercadolibre during the second quarter valued at approximately $198,000. Hedge funds and other institutional investors own 89.45% of the company’s stock.

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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).

Analyst Recommendations for Mercadolibre (NASDAQ:MELI)

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