JP Morgan Upgrades Mercadolibre Inc to Overweight

Brokerage firm JP Morgan Upgrades its rating on Mercadolibre Inc(NASDAQ:MELI). The shares have been rated Overweight. Previously, the analysts had a Neutral rating on the shares. The rating by JP Morgan was issued on Sep 2, 2016.

In a different note, Goldman Sachs said it Initiates Coverage on Mercadolibre Inc, according to a research note issued on Aug 9, 2016. The shares have been rated ‘Neutral’ by the firm.

Mercadolibre Inc (MELI) made into the market gainers list on Thursdays trading session with the shares advancing 0.98% or 1.68 points. Due to strong positive momentum, the stock ended at $173.68, which is also near the day’s high of $173.82. The stock began the session at $172.65 and the volume stood at 4,27,762 shares. The 52-week high of the shares is $174.275 and the 52 week low is $84.194. The company has a current market capitalization of $7,669 M and it has 4,41,57,341 shares in outstanding.

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.

Several Insider Transactions has been reported to the SEC. On Aug 22, 2016, Daniel Rabinovich (EVP-Chief Technology Officer) sold 6,195 shares at $166.61 per share price.Also, On Aug 18, 2016, Marcelo Melamud (VP – Chief Accounting Officer) sold 786 shares at $171.31 per share price.On Aug 11, 2016, Pedro Arnt (Executive VP and CFO) sold 3,000 shares at $168.27 per share price, according to the Form-4 filing with the securities and exchange commission.

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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