KGI Securities Begins Coverage on MercadoLibre (NASDAQ:MELI)

Equities researchers at KGI Securities initiated coverage on shares of MercadoLibre (NASDAQ:MELIGet Rating) in a research note issued on Monday, The Fly reports. The firm set an “outperform” rating on the stock.

Several other research firms also recently weighed in on MELI. Susquehanna dropped their price target on MercadoLibre from $1,990.00 to $1,750.00 and set a “positive” rating for the company in a research report on Wednesday, February 23rd. Credit Suisse Group lowered their price objective on MercadoLibre from $1,685.00 to $1,440.00 in a research report on Monday, May 2nd. Zacks Investment Research downgraded MercadoLibre from a “hold” rating to a “strong sell” rating and set a $956.00 price objective for the company. in a research report on Wednesday, March 2nd. Citigroup lowered their price objective on MercadoLibre from $1,750.00 to $1,500.00 and set a “buy” rating for the company in a research report on Tuesday, April 12th. Finally, TheStreet raised MercadoLibre from a “d+” rating to a “c-” rating in a research report on Friday, May 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, MercadoLibre currently has a consensus rating of “Buy” and a consensus target price of $1,670.50.

Shares of MELI stock opened at $788.90 on Monday. The stock has a fifty day moving average price of $965.83 and a 200 day moving average price of $1,071.65. The stock has a market cap of $39.74 billion, a PE ratio of 214.96 and a beta of 1.58. MercadoLibre has a 1 year low of $640.00 and a 1 year high of $1,970.13. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.36 and a current ratio of 1.40.

MercadoLibre (NASDAQ:MELIGet Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.36). The company had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.06 billion. MercadoLibre had a return on equity of 21.93% and a net margin of 2.30%. The business’s quarterly revenue was up 63.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 EPS. As a group, equities research analysts predict that MercadoLibre will post 6.59 earnings per share for the current year.

In other MercadoLibre news, VP La Serna Juan Martin De purchased 50 shares of the business’s stock in a transaction that occurred on Friday, March 11th. The shares were acquired at an average price of $931.00 per share, for a total transaction of $46,550.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Marcelo Melamud purchased 55 shares of the business’s stock in a transaction that occurred on Monday, March 14th. The stock was acquired at an average price of $881.82 per share, for a total transaction of $48,500.10. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 205 shares of company stock worth $188,950. 0.27% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the stock. First Pacific Advisors LP lifted its stake in shares of MercadoLibre by 10.5% in the fourth quarter. First Pacific Advisors LP now owns 105 shares of the company’s stock worth $142,000 after acquiring an additional 10 shares in the last quarter. Frisch Financial Group Inc. increased its holdings in MercadoLibre by 5.1% in the fourth quarter. Frisch Financial Group Inc. now owns 206 shares of the company’s stock valued at $278,000 after buying an additional 10 shares during the last quarter. United Asset Strategies Inc. increased its holdings in MercadoLibre by 5.8% in the first quarter. United Asset Strategies Inc. now owns 182 shares of the company’s stock valued at $216,000 after buying an additional 10 shares during the last quarter. Veritable L.P. increased its holdings in MercadoLibre by 2.4% in the third quarter. Veritable L.P. now owns 463 shares of the company’s stock valued at $778,000 after buying an additional 11 shares during the last quarter. Finally, Tocqueville Asset Management L.P. increased its holdings in MercadoLibre by 3.7% in the third quarter. Tocqueville Asset Management L.P. now owns 310 shares of the company’s stock valued at $521,000 after buying an additional 11 shares during the last quarter. Institutional investors and hedge funds own 79.61% of the company’s stock.

About MercadoLibre (Get Rating)

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; and Mercado Pago 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, as well as allows users to transfer money through their websites or on the apps.

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