Goldman Sachs Initiates Coverage on Mercadolibre Inc to Neutral

Goldman Sachs Initiates Coverage on Mercadolibre Inc(NASDAQ:MELI). The shares have been rated Neutral. The rating by Goldman Sachs was issued on Aug 9, 2016.

In a different note, On May 16, 2016, JP Morgan said it Maintains its rating on Mercadolibre Inc. In the research note, the firm Raises the price-target to $121.00 per share. The shares have been rated ‘Neutral’ by the firm.

Mercadolibre Inc (MELI) shares turned negative on Wednesdays trading session with the shares closing down -1.36 points or -0.81% at a volume of 7,34,922. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $168.71. The peak price level was also seen at $168.71 while the days lowest was $165.95. Finally the shares closed at $166.97. The 52-week high of the shares is $174.275 while the 52-week low is $84.194. According to the latest information available, the market cap of the company is $7,373 M.

Mercadolibre Inc has also declared a cash dividend of $0.1500 on Aug 4, 2016. The shares will quote ex-dividend on Sep 28, 2016 and the record date has been fixed on Sep 30, 2016. The dividend payable date has been fixed on Oct 14, 2016.

Mercadolibre Inc(MELI) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $199.64M. Analysts had an estimated revenue of $179.37M. Earnings per share were $0.74. Analysts had estimated an EPS of $0.56.

MercadoLibre Inc. hosts an online commerce platform in Latin America which is focused on enabling e-commerce and its related services. The Company provides a portfolio of services facilitating e-commerce transactions in Argentina Brazil Chile Colombia Costa Rica Ecuador Mexico Peru Uruguay and Venezuela. The Company also operates online commerce platforms in the Dominican Republic Panama and Portugal. The Company offers its users an eco-system of six related e-commerce services: the MercadoLibre Marketplace The MercadoLibre Classifieds Service the MercadoPago payments solution the MercadoLibre Advertising program the MercadoShops online stores solution and the Mercado Envios shipping service. The Company also operates a real estate classified platform that covers some areas of State of Florida in the United States.

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