Mercadolibre Inc (NASDAQ:MELI) has earned a consensus rating of “Hold” from the seventeen research firms that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, four have given a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $350.58.
Several equities analysts have issued reports on MELI shares. BidaskClub upgraded shares of Mercadolibre from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. KeyCorp set a $400.00 target price on shares of 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. Stifel Nicolaus upgraded shares of Mercadolibre from a “hold” rating to a “buy” rating and set a $380.00 target price on the stock in a research note on Tuesday, August 21st. ValuEngine cut shares of Mercadolibre from a “buy” rating to a “hold” rating in a research note on Friday, June 8th. Finally, Zacks Investment Research upgraded shares of Mercadolibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 16th.
In other Mercadolibre news, Director Meyer Malka purchased 16,518 shares of Mercadolibre stock in a transaction dated Thursday, June 14th. The stock was purchased at an average price of $301.39 per share, with a total value of $4,978,360.02. Following the transaction, the director now directly owns 1,708 shares of the company’s stock, valued at $514,774.12. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.32% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Korea Investment CORP increased its position in shares of Mercadolibre by 1,946.1% during the 1st quarter. Korea Investment CORP now owns 6,834 shares of the company’s stock valued at $2,436,000 after purchasing an additional 6,500 shares during the last quarter. Artisan Partners Limited Partnership increased its position in shares of Mercadolibre by 247.8% during the 2nd quarter. Artisan Partners Limited Partnership now owns 292,491 shares of the company’s stock valued at $87,434,000 after purchasing an additional 208,402 shares during the last quarter. Apertura Capital LLC increased its position in shares of Mercadolibre by 27.1% during the 2nd quarter. Apertura Capital LLC now owns 70,000 shares of the company’s stock valued at $20,925,000 after purchasing an additional 14,940 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Mercadolibre by 1.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,962 shares of the company’s stock valued at $3,277,000 after purchasing an additional 207 shares during the last quarter. Finally, Zeke Capital Advisors LLC purchased a new stake in shares of Mercadolibre during the 2nd quarter valued at about $6,605,000. 95.26% of the stock is owned by hedge funds and other institutional investors.
Mercadolibre stock traded up $5.74 during mid-day trading on Friday, reaching $326.50. The stock had a trading volume of 554,400 shares, compared to its average volume of 786,140. The stock has a market cap of $14.48 billion, a price-to-earnings ratio of 128.98 and a beta of 2.06. Mercadolibre has a one year low of $217.06 and a one year high of $417.91. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.15 and a quick ratio of 1.15.
Mercadolibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.04). The firm had revenue of $335.40 million during the quarter, compared to the consensus estimate of $333.98 million. Mercadolibre had a positive return on equity of 4.32% and a negative net margin of 4.39%. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.61 EPS. equities analysts expect that Mercadolibre will post -0.44 EPS for the current fiscal year.
Mercadolibre Company Profile
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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