The stock of Mercadolibre Inc (NASDAQ:MELI) reached all time high today, Oct, 10 and still has $271.59 target or 41.00% above today’s $192.62 share price. This indicates more upside for the $8.67 billion company. This technical setup was reported by Barchart.com. If the $271.59 PT is reached, the company will be worth $3.55 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 164,473 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. Cowen & Co initiated the shares of MELI in a report on Monday, April 25 with “Market Perform” rating. The rating was upgraded by HSBC on Wednesday, March 2 to “Hold”. Stifel Nicolaus maintained the shares of MELI in a report on Thursday, October 6 with “Hold” rating. The stock of Mercadolibre Inc (NASDAQ:MELI) has “Overweight” rating given on Friday, September 2 by JP Morgan. As per Monday, May 16, the company rating was maintained by JP Morgan. The firm has “Neutral” rating given on Tuesday, August 9 by Goldman Sachs. The company was downgraded on Monday, September 28 by Citigroup. The company was maintained on Monday, March 14 by JP Morgan. As per Friday, August 5, the company rating was maintained by Piper Jaffray.
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 2016 Q2. Its down 0.41, from 1.41 in 2016Q1. The ratio is negative, 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.
Us Bancorp De accumulated 24,389 shares or 0.01% of the stock. Voloridge Inv Management holds 0.03% of its portfolio in Mercadolibre Inc (NASDAQ:MELI) for 6,394 shares. Vanguard Grp holds 0% or 82,212 shares in its portfolio. Qs Invsts Ltd Liability Corporation holds 0% of its portfolio in Mercadolibre Inc (NASDAQ:MELI) for 3 shares. State Street Corp holds 28,648 shares or 0% of its portfolio. The Germany-based Deutsche Comml Bank Ag has invested 0.01% in Mercadolibre Inc (NASDAQ:MELI). Eqis Inc, a California-based fund reported 3,623 shares. Quantitative Invest Mngmt Lc holds 0.04% or 5,600 shares in its portfolio. Zevenbergen Limited Liability Corporation holds 3.6% of its portfolio in Mercadolibre Inc (NASDAQ:MELI) for 547,038 shares. Ahl Llp holds 0.02% of its portfolio in Mercadolibre Inc (NASDAQ:MELI) for 3,240 shares. Maplelane Llc accumulated 0.09% or 15,000 shares. Massachusetts Financial Service Ma has 0% invested in the company for 2,793 shares. Citigroup Inc reported 46,544 shares or 0.01% of all its holdings. The New Jersey-based Financial Architects has invested 0% in Mercadolibre Inc (NASDAQ:MELI). Prentiss Smith And, a Vermont-based fund reported 600 shares.
Insider Transactions: Since August 9, 2016, the stock had 0 insider purchases, and 4 sales for $2.25 million net activity. $504,810 worth of shares were sold by Arnt Pedro on Tuesday, August 9. Melamud Marcelo sold 786 shares worth $134,650. Shares for $583,115 were sold by SPENCE A MICHAEL on Tuesday, August 9. Rabinovich Daniel also sold $1.03M worth of Mercadolibre Inc (NASDAQ:MELI) on Friday, August 19.
More notable recent Mercadolibre Inc (NASDAQ:MELI) news were published by: Seekingalpha.com which released: “MercadoLibre Is Unstoppable” on October 06, 2016, also Fool.com with their article: “Mercadolibre, Inc. Earnings: Rolling With the Venezuelan Punches” published on August 05, 2016, Fool.com published: “Is Mercadolibre Inc. a Buy?” on April 29, 2016. More interesting news about Mercadolibre Inc (NASDAQ:MELI) were released by: Fool.com and their article: “Why MercadoLibre, Inc. Stock Soared 25% in November” published on December 12, 2015 as well as Fool.com‘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.
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