Mercadolibre (NASDAQ:MELI) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, BidAskClub reports.
Several other equities analysts also recently weighed in on the company. ValuEngine upgraded Mercadolibre from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Citigroup upgraded Mercadolibre from a “neutral” rating to a “buy” rating and raised their price target for the company from $609.00 to $729.00 in a report on Thursday, August 8th. HSBC upgraded Mercadolibre from a “hold” rating to a “buy” rating and raised their price target for the company from $575.00 to $800.00 in a report on Monday, September 9th. Stifel Nicolaus raised their price target on Mercadolibre from $560.00 to $650.00 and gave the company a “hold” rating in a report on Thursday, August 8th. Finally, Cowen set a $651.00 price target on Mercadolibre and gave the company a “hold” rating in a report on Monday, August 12th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $657.56.
NASDAQ:MELI traded up $2.43 on Wednesday, reaching $494.42. The stock had a trading volume of 390,600 shares, compared to its average volume of 567,941. Mercadolibre has a 12-month low of $257.52 and a 12-month high of $698.98. The company has a current ratio of 2.73, a quick ratio of 2.53 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average of $537.52 and a 200 day moving average of $581.45. The stock has a market cap of $24.11 billion, a P/E ratio of -602.95 and a beta of 1.61.
Mercadolibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($2.96) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($2.97). Mercadolibre had a negative net margin of 5.87% and a negative return on equity of 1.29%. The company had revenue of $603.03 million for the quarter, compared to the consensus estimate of $588.23 million. During the same quarter in the previous year, the business earned ($0.23) earnings per share. Mercadolibre’s revenue was up 69.7% compared to the same quarter last year. On average, equities analysts predict that Mercadolibre will post -1.15 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MELI. Amundi Pioneer Asset Management Inc. boosted its position in Mercadolibre by 30.5% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 14,496 shares of the company’s stock worth $7,361,000 after purchasing an additional 3,392 shares during the last quarter. Fulton Bank N.A. purchased a new position in Mercadolibre in the second quarter worth about $201,000. WINTON GROUP Ltd purchased a new position in Mercadolibre in the second quarter worth about $381,000. Gulf International Bank UK Ltd boosted its position in Mercadolibre by 10.6% in the second quarter. Gulf International Bank UK Ltd now owns 10,400 shares of the company’s stock worth $6,362,000 after purchasing an additional 1,000 shares during the last quarter. Finally, AMF Pensionsforsakring AB purchased a new position in Mercadolibre in the second quarter worth about $13,744,000. Institutional investors own 81.95% of the company’s stock.
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.
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