Mercadolibre (NASDAQ:MELI) was downgraded by Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued on Thursday, The Fly reports.
Several other analysts also recently commented on MELI. Zacks Investment Research upgraded Mercadolibre from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 8th. Susquehanna Bancshares restated a “negative” rating and issued a $340.00 target price on shares of Mercadolibre in a research note on Friday, March 8th. BTIG Research raised their target price on Mercadolibre to $535.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays restated a “buy” rating and issued a $445.00 target price on shares of Mercadolibre in a research note on Thursday, February 28th. Finally, JPMorgan Chase & Co. raised their price target on shares of Mercadolibre from $430.00 to $515.00 and gave the company an “overweight” rating in a research report on Monday. Three analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $423.17.
Shares of MELI traded down $14.14 during trading hours on Thursday, hitting $493.79. The stock had a trading volume of 1,035,734 shares, compared to its average volume of 692,248. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.30 and a quick ratio of 1.29. The company has a market cap of $22.77 billion, a PE ratio of -602.18, a P/E/G ratio of 23.78 and a beta of 2.21. Mercadolibre has a 1-year low of $257.52 and a 1-year high of $514.90.
Mercadolibre (NASDAQ:MELI) last issued its earnings results on Tuesday, February 26th. The company reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.10. The company had revenue of $428.00 million during the quarter, compared to the consensus estimate of $400.80 million. Mercadolibre had a negative return on equity of 13.47% and a negative net margin of 2.54%. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last year, the business posted ($1.53) EPS. Analysts expect that Mercadolibre will post 0.41 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in MELI. Beacon Capital Management bought a new position in Mercadolibre in the 4th quarter valued at about $0. Csenge Advisory Group bought a new position in shares of Mercadolibre during the 3rd quarter worth approximately $42,000. We Are One Seven LLC bought a new position in shares of Mercadolibre during the 4th quarter worth approximately $51,000. Larson Financial Group LLC bought a new position in shares of Mercadolibre during the 4th quarter worth approximately $59,000. Finally, Fieldpoint Private Securities LLC bought a new position in shares of Mercadolibre during the 3rd quarter worth approximately $104,000. 90.56% of the stock is currently owned by institutional investors and hedge funds.
Mercadolibre Company Profile
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.
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