Stifel Nicolaus upgraded shares of Mercadolibre (NASDAQ:MELI) from a hold rating to a buy rating in a research note published on Tuesday, The Fly reports.
Other analysts also recently issued reports about the company. ValuEngine downgraded Mercadolibre from a strong-buy rating to a buy rating in a research note on Wednesday, May 9th. BidaskClub raised Mercadolibre from a hold rating to a buy rating in a research note on Friday, July 20th. KeyCorp set a $400.00 price objective on Mercadolibre and gave the company a buy rating in a research note on Wednesday, July 25th. They noted that the move was a valuation call. Zacks Investment Research raised Mercadolibre from a strong sell rating to a hold rating in a research note on Monday, July 16th. Finally, Credit Suisse Group upped their price objective on Mercadolibre from $380.00 to $425.00 and gave the company an outperform rating in a research note on Monday, July 16th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $356.92.
MELI opened at $328.45 on Tuesday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 2.15. The company has a market cap of $14.32 billion, a price-to-earnings ratio of 129.82 and a beta of 2.04. Mercadolibre has a 52 week low of $217.06 and a 52 week high of $417.91.
Mercadolibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, August 8th. The company reported ($0.25) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.04). The company had revenue of $335.40 million for the quarter, compared to analysts’ expectations of $333.98 million. Mercadolibre had a negative net margin of 4.39% and a positive return on equity of 4.32%. The firm’s revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.61 earnings per share. equities research analysts expect that Mercadolibre will post -0.15 earnings per share for the current fiscal year.
In other Mercadolibre news, Director Meyer Malka bought 16,500 shares of the company’s stock in a transaction on Tuesday, June 12th. The shares were bought at an average price of $301.40 per share, for a total transaction of $4,973,100.00. Following the transaction, the director now owns 1,708 shares of the company’s stock, valued at approximately $514,791.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.32% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Korea Investment CORP increased its position in Mercadolibre by 1,946.1% during the 1st quarter. Korea Investment CORP now owns 6,834 shares of the company’s stock worth $2,436,000 after purchasing an additional 6,500 shares during the period. Apertura Capital LLC increased its position in Mercadolibre by 27.1% during the 2nd quarter. Apertura Capital LLC now owns 70,000 shares of the company’s stock worth $20,925,000 after purchasing an additional 14,940 shares during the period. Zeke Capital Advisors LLC acquired a new stake in shares of Mercadolibre in the 2nd quarter worth approximately $6,605,000. First Mercantile Trust Co. grew its holdings in shares of Mercadolibre by 5.3% in the 2nd quarter. First Mercantile Trust Co. now owns 4,000 shares of the company’s stock worth $1,196,000 after acquiring an additional 200 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Mercadolibre by 1.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,962 shares of the company’s stock worth $3,277,000 after acquiring an additional 207 shares during the period. Institutional investors own 90.39% 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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