Mercadolibre (MELI) Stock Rating Upgraded by BidaskClub

Mercadolibre (NASDAQ:MELI) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Thursday.

MELI has been the topic of a number of other research reports. Piper Jaffray Companies boosted their price objective on Mercadolibre from $268.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday. Credit Suisse Group boosted their price objective on Mercadolibre from $350.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, November 3rd. Susquehanna Bancshares reduced their price objective on Mercadolibre from $275.00 to $230.00 in a research note on Friday, October 13th. KeyCorp reissued a “buy” rating and issued a $290.00 price objective on shares of Mercadolibre in a research note on Tuesday, October 17th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $275.00 price objective on shares of Mercadolibre in a research note on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $275.98.

Mercadolibre (NASDAQ MELI) traded down $2.10 during trading on Thursday, reaching $318.91. The company’s stock had a trading volume of 861,978 shares, compared to its average volume of 667,108. The company has a current ratio of 1.44, a quick ratio of 1.43 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $14,174.95, a price-to-earnings ratio of 91.72, a P/E/G ratio of 5.30 and a beta of 2.05. Mercadolibre has a one year low of $150.29 and a one year high of $329.00.

Mercadolibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.07. The company had revenue of $370.66 million for the quarter, compared to analyst estimates of $347.29 million. Mercadolibre had a return on equity of 34.78% and a net margin of 10.91%. The business’s revenue was up 60.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.88 earnings per share. equities analysts forecast that Mercadolibre will post 2.42 EPS for the current year.

In other news, Director Alejandro Nicolas Aguzin purchased 10,000 shares of the business’s stock in a transaction dated Monday, November 27th. The shares were acquired at an average price of $274.47 per share, with a total value of $2,744,700.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $2,744,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.36% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of MELI. Dimensional Fund Advisors LP lifted its stake in shares of Mercadolibre by 33.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,874 shares of the company’s stock valued at $608,000 after acquiring an additional 725 shares during the period. Aperio Group LLC increased its holdings in Mercadolibre by 53.0% in the second quarter. Aperio Group LLC now owns 2,420 shares of the company’s stock valued at $607,000 after purchasing an additional 838 shares during the last quarter. Strs Ohio increased its holdings in Mercadolibre by 361.1% in the second quarter. Strs Ohio now owns 2,536 shares of the company’s stock valued at $636,000 after purchasing an additional 1,986 shares during the last quarter. CIBC Asset Management Inc bought a new stake in Mercadolibre in the second quarter valued at about $347,000. Finally, Pictet Asset Management Ltd. increased its holdings in Mercadolibre by 4.5% in the second quarter. Pictet Asset Management Ltd. now owns 13,900 shares of the company’s stock valued at $3,824,000 after purchasing an additional 600 shares during the last quarter. 89.60% of the stock is currently owned by institutional investors and hedge funds.

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Mercadolibre Company Profile

MercadoLibre, Inc is an e-commerce company. The Company enables commerce through its marketplace platform in Latin America, which is designed to provide users with a portfolio of services to facilitate commercial transactions. Its geographic segments are Brazil, Argentina, Mexico Venezuela and Other Countries (which includes Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Portugal, Guatemala, Bolivia, Paraguay, Uruguay and the United States of America).

Analyst Recommendations for Mercadolibre (NASDAQ:MELI)

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