Piper Jaffray Companies Comments on Mercadolibre Inc’s Q4 2019 Earnings (MELI)

Mercadolibre Inc (NASDAQ:MELI) – Stock analysts at Piper Jaffray Companies decreased their Q4 2019 earnings estimates for Mercadolibre in a research report issued to clients and investors on Wednesday, May 1st, according to Zacks Investment Research. Piper Jaffray Companies analyst M. Olson now forecasts that the company will post earnings of $0.93 per share for the quarter, down from their previous estimate of $1.04. Piper Jaffray Companies has a “Overweight” rating and a $504.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Mercadolibre’s Q1 2020 earnings at $1.15 EPS, Q2 2020 earnings at $1.46 EPS, Q3 2020 earnings at $1.59 EPS and Q4 2020 earnings at $1.93 EPS.

Mercadolibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.14. Mercadolibre had a negative return on equity of 1.55% and a negative net margin of 0.74%. The firm had revenue of $474.00 million for the quarter, compared to analyst estimates of $423.19 million. During the same quarter in the prior year, the company posted ($0.29) earnings per share. Mercadolibre’s quarterly revenue was up 47.7% on a year-over-year basis.

MELI has been the topic of a number of other research reports. Susquehanna Bancshares raised Mercadolibre from a “negative” rating to a “neutral” rating in a report on Friday, May 3rd.
Barclays reissued a “buy” rating on shares of Mercadolibre in a report on Sunday, May 5th. Goldman Sachs Group started coverage on Mercadolibre in a report on Tuesday, February 5th. They issued a “buy” rating and a $438.00 target price on the stock. JPMorgan Chase & Co. upped their target price on Mercadolibre from $430.00 to $515.00 and gave the company an “overweight” rating in a report on Monday, March 11th. Finally, Zacks Investment Research raised Mercadolibre from a “hold” rating to a “buy” rating and set a $608.00 target price on the stock in a report on Friday, May 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $481.07.

MELI stock traded down $21.16 on Thursday, reaching $574.57. 522,920 shares of the company’s stock were exchanged, compared to its average volume of 653,179. Mercadolibre has a twelve month low of $257.52 and a twelve month high of $596.70. The firm has a market capitalization of $28.26 billion, a PE ratio of -700.70 and a beta of 2.14. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.82 and a quick ratio of 2.82.

In related news, Director Emiliano Calemzuk acquired 120 shares of the firm’s stock in a transaction that occurred on Saturday, March 9th. The shares were acquired at an average price of $414.14 per share, with a total value of $49,696.80. Following the completion of the purchase, the director now directly owns 2,669 shares in the company, valued at $1,105,339.66. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.40% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Baillie Gifford & Co. boosted its stake in shares of Mercadolibre by 2.3% during the fourth quarter. Baillie Gifford & Co. now owns 5,208,620 shares of the company’s stock valued at $1,525,344,000 after acquiring an additional 117,948 shares during the last quarter. FMR LLC boosted its stake in shares of Mercadolibre by 24.8% during the first quarter. FMR LLC now owns 1,270,693 shares of the company’s stock valued at $645,170,000 after acquiring an additional 252,698 shares during the last quarter. OppenheimerFunds Inc. boosted its stake in shares of Mercadolibre by 9.1% during the first quarter. OppenheimerFunds Inc. now owns 1,099,806 shares of the company’s stock valued at $558,403,000 after acquiring an additional 91,900 shares during the last quarter. Viking Global Investors LP acquired a new stake in shares of Mercadolibre during the first quarter valued at $310,664,000. Finally, Jennison Associates LLC boosted its stake in shares of Mercadolibre by 29.8% during the first quarter. Jennison Associates LLC now owns 429,092 shares of the company’s stock valued at $217,863,000 after acquiring an additional 98,432 shares during the last quarter. 81.58% of the stock is currently owned by institutional investors and hedge funds.

About Mercadolibre

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.

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Earnings History and Estimates for Mercadolibre (NASDAQ:MELI)

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