Todays Report: The Stifel Nicolaus Increases MercadoLibre SA (MELI) Price Target to $180.00

The Stifel Nicolaus Increases MercadoLibre SA (MELI) Price Target to $180.00

MercadoLibre SA (NASDAQ:MELI) had its price target boosted by Stifel Nicolaus from $150.00 to $180.00 in a research report sent to investors on Thursday. They currently have a hold rating on the stock.

Several other brokerages have also recently issued reports on MELI. Zacks Investment Research raised shares of MercadoLibre SA from a hold rating to a strong-buy rating and set a $212.00 price target on the stock in a research report on Wednesday, October 5th. Goldman Sachs Group Inc. began coverage on shares of MercadoLibre SA in a research report on Tuesday, August 9th. They set a neutral rating and a $170.00 price target on the stock. JPMorgan Chase & Co. raised shares of MercadoLibre SA from a neutral rating to an overweight rating and increased their price target for the stock from $173.68 to $200.00 in a research report on Friday, September 2nd. Finally, Piper Jaffray Cos. reissued an overweight rating and set a $185.00 price target on shares of MercadoLibre SA in a research report on Tuesday, August 30th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $162.88.

Shares of MercadoLibre SA (NASDAQ:MELI) opened at 184.47 on Thursday. The firm’s 50-day moving average is $180.10 and its 200 day moving average is $148.90. MercadoLibre SA has a 52-week low of $84.19 and a 52-week high of $193.58. The stock has a market cap of $8.15 billion, a P/E ratio of 62.32 and a beta of 2.08.

MercadoLibre SA (NASDAQ:MELI) last announced its earnings results on Thursday, August 4th. The company reported $0.36 earnings per share 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 analysts’ expectations of $180.94 million. MercadoLibre SA had a return on equity of 38.04% and a net margin of 18.50%. The company’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same period last year, the business earned $0.44 EPS. Analysts forecast that MercadoLibre SA will post $2.76 earnings per share for the current fiscal year.

The company also recently announced 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. The ex-dividend date is Wednesday, September 28th. This represents a $0.60 annualized dividend and a yield of 0.33%. MercadoLibre SA’s dividend payout ratio (DPR) is 20.34%.

In related news, Director A Michael Spence sold 3,451 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 6,903 shares of the company’s stock, valued at $1,166,399.91. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel Rabinovich sold 6,195 shares of the firm’s stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $166.61, for a total transaction of $1,032,148.95. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Virginia Retirement System bought a new stake in MercadoLibre SA during the first quarter worth $271,000. BlackRock Inc. boosted its stake in MercadoLibre SA by 1,649.1% in the first quarter. BlackRock Inc. now owns 8,116 shares of the company’s stock worth $956,000 after buying an additional 7,652 shares during the last quarter. BlackRock Group LTD boosted its stake in MercadoLibre SA by 133.2% in the first quarter. BlackRock Group LTD now owns 149,564 shares of the company’s stock worth $17,626,000 after buying an additional 85,432 shares during the last quarter. Landscape Capital Management L.L.C. boosted its stake in MercadoLibre SA by 175.5% in the first quarter. Landscape Capital Management L.L.C. now owns 9,035 shares of the company’s stock worth $1,065,000 after buying an additional 5,755 shares during the last quarter. Finally, Blue Rock Advisors LLC bought a new stake in MercadoLibre SA during the first quarter worth $193,000. 74.01% of the stock is currently owned by hedge funds and other institutional investors.

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