Mercadolibre (NASDAQ:MELI) Upgraded to “Hold” at BidaskClub

Mercadolibre (NASDAQ:MELI) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Saturday, BidAskClub reports.

MELI has been the subject of several other research reports. Citigroup upgraded shares of Mercadolibre from a “neutral” rating to a “buy” rating and increased their price objective for the company from $609.00 to $729.00 in a research note on Thursday, August 8th. Cowen set a $651.00 price objective on shares of Mercadolibre and gave the company a “hold” rating in a research note on Monday, August 12th. HSBC upgraded shares of Mercadolibre from a “hold” rating to a “buy” rating and increased their price objective for the company from $575.00 to $800.00 in a research note on Monday, September 9th. JPMorgan Chase & Co. upgraded shares of Mercadolibre from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $563.00 to $750.00 in a research note on Tuesday, August 13th. Finally, ValuEngine upgraded shares of Mercadolibre from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Mercadolibre has an average rating of “Buy” and an average price target of $657.56.

NASDAQ:MELI traded up $3.32 on Friday, hitting $536.33. The stock had a trading volume of 516,935 shares, compared to its average volume of 570,763. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.72 and a current ratio of 2.73. The stock has a market cap of $27.35 billion, a P/E ratio of -654.06 and a beta of 1.61. Mercadolibre has a 1 year low of $257.52 and a 1 year high of $698.98. The firm’s fifty day simple moving average is $533.97 and its two-hundred day simple moving average is $582.96.

Mercadolibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($2.96) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($2.97). The firm had revenue of $603.03 million during the quarter, compared to analysts’ expectations of $588.23 million. Mercadolibre had a negative net margin of 5.87% and a negative return on equity of 1.29%. The company’s quarterly revenue was up 69.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.23) EPS. Equities research analysts predict that Mercadolibre will post -1.15 EPS for the current year.

Hedge funds have recently modified their holdings of the company. Bartlett & Co. LLC purchased a new stake in shares of Mercadolibre during the 3rd quarter worth approximately $26,000. Reilly Financial Advisors LLC increased its stake in shares of Mercadolibre by 64.5% during the 3rd quarter. Reilly Financial Advisors LLC now owns 51 shares of the company’s stock worth $28,000 after purchasing an additional 20 shares during the last quarter. Lindbrook Capital LLC purchased a new stake in shares of Mercadolibre during the 3rd quarter worth approximately $28,000. NEXT Financial Group Inc increased its stake in shares of Mercadolibre by 104.3% during the 2nd quarter. NEXT Financial Group Inc now owns 47 shares of the company’s stock worth $29,000 after purchasing an additional 24 shares during the last quarter. Finally, CENTRAL TRUST Co increased its stake in shares of Mercadolibre by 62.5% during the 2nd quarter. CENTRAL TRUST Co now owns 52 shares of the company’s stock worth $33,000 after purchasing an additional 20 shares during the last quarter. Institutional investors own 81.85% of the company’s stock.

About Mercadolibre

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.

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Analyst Recommendations for Mercadolibre (NASDAQ:MELI)

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