MercadoLibre (NASDAQ:MELI – Get Rating) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued to investors on Thursday.
A number of other research analysts also recently issued reports on MELI. KGI Securities assumed coverage on MercadoLibre in a report on Monday, June 6th. They issued an "outperform" rating on the stock. New Street Research assumed coverage on MercadoLibre in a report on Wednesday, July 6th. They issued a "buy" rating and a $1,100.00 price target on the stock. TheStreet upgraded MercadoLibre from a "d+" rating to a "c-" rating in a report on Friday, May 6th. Credit Suisse Group boosted their target price on MercadoLibre from $1,430.00 to $1,470.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Jefferies Financial Group dropped their target price on MercadoLibre from $850.00 to $800.00 in a research note on Thursday, July 21st. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,392.00.
Get MercadoLibre alerts:MercadoLibre Stock Up 16.2 %
NASDAQ MELI traded up $143.96 on Thursday, reaching $1,034.83. 1,833,656 shares of the stock traded hands, compared to its average volume of 682,942. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.36 and a current ratio of 1.40. The company has a fifty day moving average price of $733.01 and a 200-day moving average price of $925.20. The company has a market cap of $52.13 billion, a price-to-earnings ratio of 281.97 and a beta of 1.68. MercadoLibre has a 12 month low of $600.68 and a 12 month high of $1,970.13.
MercadoLibre (NASDAQ:MELI – Get Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $2.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.68 by $0.75. MercadoLibre had a return on equity of 21.93% and a net margin of 2.30%. During the same period in the prior year, the firm posted $1.37 EPS. As a group, research analysts forecast that MercadoLibre will post 6.03 EPS for the current fiscal year.Institutional Trading of MercadoLibre
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC lifted its position in MercadoLibre by 53.1% during the 4th quarter. ProShare Advisors LLC now owns 92,787 shares of the company's stock worth $125,114,000 after acquiring an additional 32,165 shares during the period. Verdence Capital Advisors LLC acquired a new stake in MercadoLibre during the 1st quarter worth about $353,000. O Shaughnessy Asset Management LLC lifted its position in MercadoLibre by 108.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 225 shares of the company's stock worth $303,000 after acquiring an additional 117 shares during the period. Advisory Alpha LLC lifted its position in MercadoLibre by 7.4% during the 1st quarter. Advisory Alpha LLC now owns 217 shares of the company's stock worth $259,000 after acquiring an additional 15 shares during the period. Finally, SlateStone Wealth LLC acquired a new stake in MercadoLibre during the 1st quarter worth about $357,000. Institutional investors and hedge funds own 79.61% of the company's stock.
MercadoLibre Company Profile
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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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