Mercadolibre (NASDAQ:MELI) had its price objective reduced by Credit Suisse Group from $425.00 to $420.00 in a research report released on Thursday. Credit Suisse Group currently has an outperform rating on the stock.
MELI has been the topic of a number of other research reports. Zacks Investment Research lowered shares of Mercadolibre from a hold rating to a sell rating in a research note on Tuesday, July 31st. Piper Jaffray Companies lifted their price target on shares of Mercadolibre to $376.00 and gave the company an overweight rating in a research note on Tuesday, July 31st. KeyCorp raised shares of Mercadolibre from a sector weight rating to an overweight rating and set a $350.00 price target on the stock in a research note on Monday, June 25th. Cowen reaffirmed a hold rating and issued a $373.00 price target on shares of Mercadolibre in a research note on Tuesday, April 17th. Finally, ValuEngine raised shares of Mercadolibre from a buy rating to a strong-buy rating in a research note on Wednesday, May 2nd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $356.92.
Mercadolibre stock traded down $12.04 during midday trading on Thursday, hitting $372.35. 986,389 shares of the stock were exchanged, compared to its average volume of 881,727. Mercadolibre has a 52 week low of $217.06 and a 52 week high of $417.91. The firm has a market capitalization of $16.97 billion, a price-to-earnings ratio of 1,325.48 and a beta of 2.04. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.18 and a quick ratio of 1.18.
Mercadolibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.04). Mercadolibre had a negative net margin of 4.39% and a positive return on equity of 3.75%. The company had revenue of $335.40 million during the quarter, compared to the consensus estimate of $333.98 million. During the same period in the previous year, the firm posted $0.61 EPS. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. analysts predict that Mercadolibre will post -0.11 EPS for the current fiscal year.
In other Mercadolibre news, Director Meyer Malka acquired 16,518 shares of the stock in a transaction dated Thursday, June 14th. The shares were bought at an average cost of $301.39 per share, for a total transaction of $4,978,360.02. Following the completion of the acquisition, the director now directly owns 1,708 shares of the company’s stock, valued at $514,774.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders bought 34,726 shares of company stock worth $10,451,306 over the last quarter. 0.32% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of MELI. Fortis Advisors LLC acquired a new position in Mercadolibre during the first quarter worth $112,000. HMS Capital Management LLC acquired a new position in Mercadolibre during the second quarter worth $211,000. WESPAC Advisors LLC acquired a new position in Mercadolibre during the first quarter worth $215,000. Sawtooth Solutions LLC acquired a new position in Mercadolibre during the second quarter worth $257,000. Finally, Financial Enhancement Group LLC acquired a new position in Mercadolibre during the second quarter worth $259,000. Institutional investors and hedge funds own 87.71% of the company’s stock.
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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