MercadoLibre (NASDAQ:MELI) Lowered to Sell at StockNews.com

MercadoLibre (NASDAQ:MELIGet Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus lowered their price target on MercadoLibre from $1,600.00 to $1,400.00 and set a “buy” rating for the company in a research report on Wednesday, February 23rd. Credit Suisse Group reduced their price target on shares of MercadoLibre from $1,685.00 to $1,440.00 in a research report on Monday, May 2nd. Citigroup dropped their price objective on shares of MercadoLibre from $1,500.00 to $1,150.00 and set a “buy” rating for the company in a research report on Thursday. TheStreet upgraded MercadoLibre from a “d+” rating to a “c-” rating in a report on Friday, May 6th. Finally, KGI Securities initiated coverage on MercadoLibre in a report on Monday. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $1,586.00.

NASDAQ:MELI opened at $748.41 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.36 and a debt-to-equity ratio of 1.66. MercadoLibre has a twelve month low of $640.00 and a twelve month high of $1,970.13. The company has a market capitalization of $37.70 billion, a P/E ratio of 203.93 and a beta of 1.58. The firm has a 50-day moving average price of $932.25 and a two-hundred day moving average price of $1,060.14.

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

In related news, CAO Marcelo Melamud bought 55 shares of the company’s stock in a transaction dated Monday, March 14th. The stock was bought at an average price of $881.82 per share, with a total value of $48,500.10. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.27% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in MELI. First Pacific Advisors LP grew its position in shares of MercadoLibre by 10.5% in the 4th 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. boosted its holdings in MercadoLibre by 5.1% in the fourth quarter. Frisch Financial Group Inc. now owns 206 shares of the company’s stock worth $278,000 after purchasing an additional 10 shares during the period. United Asset Strategies Inc. increased its stake in MercadoLibre by 5.8% during the first quarter. United Asset Strategies Inc. now owns 182 shares of the company’s stock valued at $216,000 after purchasing an additional 10 shares during the last quarter. Veritable L.P. raised its holdings in shares of MercadoLibre by 2.4% during the third quarter. Veritable L.P. now owns 463 shares of the company’s stock worth $778,000 after purchasing an additional 11 shares during the period. Finally, Tocqueville Asset Management L.P. boosted its holdings in shares of MercadoLibre by 3.7% in the 3rd 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 period. 79.61% of the stock is owned by hedge funds and other institutional investors.

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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