Noteworthy Price Action: Mercadolibre Inc Can’t Burn Your Long Portfolio. Just Reaches 52-Week High

Noteworthy Price Action: Mercadolibre Inc Can't Burn Your Long Portfolio. Just Reaches 52 Week High

The stock of Mercadolibre Inc (NASDAQ:MELI) hit a new 52-week high and has $260.05 target or 35.00% above today’s $192.63 share price. The 9 months bullish chart indicates low risk for the $8.67 billion company. The 1-year high was reported on Oct, 10 by If the $260.05 price target is reached, the company will be worth $3.03 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 97,728 shares traded hands. Mercadolibre Inc (NASDAQ:MELI) has risen 71.92% since March 7, 2016 and is uptrending. It has outperformed by 64.32% the S&P500.

Analysts await Mercadolibre Inc (NASDAQ:MELI) to report earnings on November, 2. They expect $0.75 EPS, 0.00% or $0.00 from last year’s $0.75 per share. MELI’s profit will be $33.76M for 64.21 P/E if the $0.75 EPS becomes a reality. After $0.74 actual EPS reported by Mercadolibre Inc for the previous quarter, Wall Street now forecasts 1.35% EPS growth.

Mercadolibre Inc (NASDAQ:MELI) Ratings Coverage

Out of 7 analysts covering MercadoLibre (NASDAQ:MELI), 2 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 29% are positive. MercadoLibre has been the topic of 12 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Goldman Sachs initiated the shares of MELI in a report on Tuesday, August 9 with “Neutral” rating. The firm has “Market Perform” rating by Cowen & Co given on Monday, April 25. The rating was upgraded by HSBC to “Hold” on Wednesday, March 2. The firm has “Hold” rating by Stifel Nicolaus given on Thursday, October 6. The stock of Mercadolibre Inc (NASDAQ:MELI) earned “Overweight” rating by JP Morgan on Friday, September 2. JP Morgan maintained the stock with “Neutral” rating in Monday, May 16 report. Piper Jaffray maintained Mercadolibre Inc (NASDAQ:MELI) on Friday, August 5 with “Overweight” rating. The company was downgraded on Monday, September 28 by Citigroup. The stock has “Neutral” rating given by JP Morgan on Monday, March 14.

According to Zacks Investment Research, “MercadoLibre is the largest online trading platform in Latin America. We are market leaders in e-commerce in each of Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, Uruguay and Venezuela, based on unique visitors and page views. Additionally, we have recently launched online trading platforms in Costa Rica, the Dominican Republic and Panama. With a market of over Five fifty million people and a region with one of the world’s fastest-growing Internet penetration rates, we provide buyers and sellers a robust online trading environment that fosters the development of a large and growing e-commerce community. We offer a technological and commercial solution that addresses the distinctive cultural and geographic challenges of operating an online trading platform in Latin America.”

Insitutional Activity: The institutional sentiment decreased to 1 in Q2 2016. Its down 0.41, from 1.41 in 2016Q1. The ratio worsened, as 26 funds sold all Mercadolibre Inc shares owned while 66 reduced positions. 35 funds bought stakes while 57 increased positions. They now own 31.31 million shares or 2.81% less from 32.21 million shares in 2016Q1.
Robeco Institutional Asset Bv has 200,000 shares for 0.21% of their US portfolio. Paloma Prns Mngmt holds 3,110 shares or 0% of its portfolio. Balyasny Asset Mngmt Ltd Limited Liability Company holds 0.74% or 821,470 shares in its portfolio. Nicholas Invest Prtn Ltd Partnership last reported 53,960 shares in the company. J Goldman Com L P holds 0.75% or 101,550 shares in its portfolio. Moreover, Zevin Asset Mngmt Ltd Company has 1.53% invested in Mercadolibre Inc (NASDAQ:MELI) for 39,250 shares. Public Employees Retirement Association Of Colorado has invested 0.01% of its portfolio in Mercadolibre Inc (NASDAQ:MELI). Envestnet Asset Management last reported 8,979 shares in the company. Next Grp Inc holds 0% or 25 shares in its portfolio. Fil Limited owns 27,868 shares or 0.01% of their US portfolio. Loomis Sayles Lp owns 3,497 shares or 0% of their US portfolio. Baillie Gifford & Company reported 6.36M shares or 1.6% of all its holdings. Oak Associate Limited Oh last reported 0.16% of its portfolio in the stock. Citigroup holds 0.01% of its portfolio in Mercadolibre Inc (NASDAQ:MELI) for 46,544 shares. Ashford Management Inc holds 2,250 shares or 0.07% of its portfolio.

Insider Transactions: Since August 9, 2016, the stock had 0 insider buys, and 4 insider sales for $2.25 million net activity. Another trade for 3,000 shares valued at $504,810 was sold by Arnt Pedro. 3,451 Mercadolibre Inc (NASDAQ:MELI) shares with value of $583,115 were sold by SPENCE A MICHAEL. Rabinovich Daniel sold $1.03M worth of stock or 6,195 shares. The insider Melamud Marcelo sold 786 shares worth $134,650.

More notable recent Mercadolibre Inc (NASDAQ:MELI) news were published by: which released: “MercadoLibre Is Unstoppable” on October 06, 2016, also with their article: “Mercadolibre, Inc. Earnings: Rolling With the Venezuelan Punches” published on August 05, 2016, published: “Is Mercadolibre Inc. a Buy?” on April 29, 2016. More interesting news about Mercadolibre Inc (NASDAQ:MELI) were released by: and their article: “Why MercadoLibre, Inc. Stock Soared 25% in November” published on December 12, 2015 as well as‘s news article titled: “Small Cap Low-Risk Pick No. 5: MercadoLibre Inc.” with publication date: April 08, 2016.

MELI Company Profile

MercadoLibre, Inc. (MercadoLibre), incorporated on October 15, 1999, hosts an online commerce platform in Latin America, which is focused on enabling e-commerce and its related services. The Firm provides a portfolio of services facilitating e-commerce transactions in Argentina, Brazil, Chile, Colombia, Costa Rica, Ecuador, Mexico, Peru, Uruguay and Venezuela. The Company’s geographic divisions are Brazil, Argentina, Mexico, Venezuela and other countries (including Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Portugal, Guatemala, Bolivia, Paraguay, Uruguay and the United States of America (real estate classifieds in the State of Florida only). It also operates online commerce platforms in the Dominican Republic, Panama, Bolivia, Guatemala, Paraguay and Portugal. The Firm offers its users an eco-system of over six related e-commerce services: the MercadoLibre Marketplace, The MercadoLibre Classifieds Service, the MercadoPago payments solution, the MercadoLibre Advertising program (MercadoClics), the MercadoShops online Webstores solution and the Mercado Envios shipping service. The Firm also operates a real estate classified platform that covers some areas of State of Florida in the United States.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags: , ,

Leave a Comment