BidaskClub Lowers MercadoLibre (MELI) to Strong Sell

MercadoLibre (NASDAQ:MELI) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Thursday.

A number of other equities research analysts have also issued reports on MELI. Stifel Nicolaus reaffirmed a “buy” rating and set a $415.00 target price (up previously from $350.00) on shares of MercadoLibre in a report on Sunday, January 28th. Zacks Investment Research raised shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $433.00 target price for the company in a report on Wednesday, January 31st. Goldman Sachs reaffirmed a “neutral” rating and set a $378.00 target price (up previously from $222.00) on shares of MercadoLibre in a report on Thursday, February 8th. Piper Jaffray reaffirmed an “overweight” rating and set a $415.00 target price on shares of MercadoLibre in a report on Thursday, February 15th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $400.00 target price (up previously from $385.00) on shares of MercadoLibre in a report on Friday, February 23rd. Three analysts have rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. MercadoLibre presently has an average rating of “Hold” and a consensus price target of $342.55.

Shares of MercadoLibre opened at $300.28 on Thursday, according to Marketbeat.com. The firm has a market capitalization of $12.84 billion, a P/E ratio of 120.60 and a beta of 2.08. The company has a quick ratio of 1.33, a current ratio of 1.18 and a debt-to-equity ratio of 1.25. MercadoLibre has a one year low of $286.63 and a one year high of $299.19.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.35). The company had revenue of $436.98 million during the quarter, compared to analysts’ expectations of $404.74 million. MercadoLibre had a positive return on equity of 13.98% and a negative net margin of 3.30%. equities research analysts expect that MercadoLibre will post 1.4 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the company. Eqis Capital Management Inc. boosted its position in shares of MercadoLibre by 2.2% during the 4th quarter. Eqis Capital Management Inc. now owns 7,065 shares of the company’s stock valued at $2,223,000 after acquiring an additional 153 shares during the last quarter. Aperio Group LLC boosted its position in shares of MercadoLibre by 7.3% during the 1st quarter. Aperio Group LLC now owns 2,630 shares of the company’s stock valued at $937,000 after acquiring an additional 178 shares during the last quarter. Parametrica Management Ltd boosted its position in shares of MercadoLibre by 17.9% during the 4th quarter. Parametrica Management Ltd now owns 1,214 shares of the company’s stock valued at $382,000 after acquiring an additional 184 shares during the last quarter. Dumac Inc. boosted its position in shares of MercadoLibre by 105.6% during the 4th quarter. Dumac Inc. now owns 370 shares of the company’s stock valued at $116,000 after acquiring an additional 190 shares during the last quarter. Finally, Pier 88 Investment Partners LLC boosted its position in shares of MercadoLibre by 10.7% during the 4th quarter. Pier 88 Investment Partners LLC now owns 2,020 shares of the company’s stock valued at $636,000 after acquiring an additional 195 shares during the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

About MercadoLibre

MercadoLibre, Inc hosts online commerce platforms in Latin America. It offers MercadoLibre Marketplace, an automated online commerce service for businesses and individuals to list items and conduct their sales and purchases online in a fixed-price or auction-based format. The company's Marketplace platform enables commerce through online classifieds for motor vehicles, vessels, aircraft, services, and real estate; and Internet users to browse through various products that are listed on its Website and to register with MercadoLibre to list and purchase items and services.

Analyst Recommendations for MercadoLibre (NASDAQ:MELI)

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