Mercadolibre’s (MELI) “Outperform” Rating Reiterated at Credit Suisse Group

Credit Suisse Group reaffirmed their outperform rating on shares of Mercadolibre (NASDAQ:MELI) in a research report released on Monday morning, Marketbeat.com reports. The brokerage currently has a $385.00 price target on the stock, up from their previous price target of $380.00.

Several other equities research analysts have also issued reports on the stock. Piper Jaffray Companies reissued a buy rating and issued a $268.00 price objective on shares of Mercadolibre in a research report on Monday, October 23rd. Susquehanna Bancshares dropped their price objective on shares of Mercadolibre from $275.00 to $230.00 in a research report on Friday, October 13th. Barclays dropped their price objective 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. Stifel Nicolaus reissued a buy rating and issued a $275.00 price objective on shares of Mercadolibre in a research report on Wednesday, October 4th. Finally, Goldman Sachs Group reissued a neutral rating and issued a $215.00 price objective on shares of Mercadolibre in a research report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Mercadolibre presently has a consensus rating of Buy and a consensus target price of $276.98.

Mercadolibre (NASDAQ MELI) traded up $1.90 during trading on Monday, hitting $339.55. 658,800 shares of the stock traded hands, compared to its average volume of 460,714. Mercadolibre has a 52 week low of $172.85 and a 52 week high of $344.18. The firm has a market capitalization of $15,020.00, a price-to-earnings ratio of 112.81, a P/E/G ratio of 4.61 and a beta of 2.05. The company has a quick ratio of 1.43, a current ratio of 1.44 and a debt-to-equity ratio of 0.76.

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

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

In other news, Director Alejandro Nicolas Aguzin purchased 10,000 shares of the stock in a transaction that occurred on 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 acquisition, the director now owns 10,000 shares in the company, valued at $2,744,700. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.36% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in MELI. Koch Industries Inc. grew its holdings in Mercadolibre by 85,458.8% during the 2nd quarter. Koch Industries Inc. now owns 965,959 shares of the company’s stock worth $962,000 after acquiring an additional 964,830 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Mercadolibre by 246.4% during the 2nd quarter. Renaissance Technologies LLC now owns 311,800 shares of the company’s stock worth $78,224,000 after acquiring an additional 221,800 shares in the last quarter. Orbis Allan Gray Ltd grew its holdings in Mercadolibre by 10.2% during the 2nd quarter. Orbis Allan Gray Ltd now owns 1,591,614 shares of the company’s stock worth $399,304,000 after acquiring an additional 146,891 shares in the last quarter. Carmignac Gestion grew its holdings in Mercadolibre by 6.3% during the 3rd quarter. Carmignac Gestion now owns 2,426,208 shares of the company’s stock worth $628,218,000 after acquiring an additional 144,451 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in Mercadolibre by 10,991.2% during the 2nd quarter. Nordea Investment Management AB now owns 129,989 shares of the company’s stock worth $32,612,000 after acquiring an additional 128,817 shares in the last quarter. 89.44% of the stock is owned by institutional investors.

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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).

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