MercadoLibre (NASDAQ:MELI) Cut to “Hold” at StockNews.com

StockNews.com cut shares of MercadoLibre (NASDAQ:MELI) from a buy rating to a hold rating in a report released on Friday morning.

MELI has been the subject of several other research reports. Cantor Fitzgerald lowered their price target on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Barclays boosted their price target on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. The Goldman Sachs Group upped their target price on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. Finally, Morgan Stanley restated an “overweight” rating on shares of MercadoLibre in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2,521.33.

MercadoLibre Trading Down 0.1%

Shares of MELI stock opened at $2,584.92 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The stock has a market capitalization of $131.05 billion, a P/E ratio of 68.57, a price-to-earnings-growth ratio of 1.12 and a beta of 1.61. The company has a 50 day moving average price of $2,135.04 and a 200 day moving average price of $1,999.47. MercadoLibre has a fifty-two week low of $1,550.00 and a fifty-two week high of $2,610.30.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating analysts’ consensus estimates of $7.82 by $1.92. The firm had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.55 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The business’s quarterly revenue was up 37.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.78 earnings per share. Equities research analysts predict that MercadoLibre will post 43.96 EPS for the current fiscal year.

Institutional Trading of MercadoLibre

Several institutional investors and hedge funds have recently bought and sold shares of MELI. Oppenheimer & Co. Inc. raised its position in MercadoLibre by 11.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company’s stock worth $2,328,000 after buying an additional 143 shares during the last quarter. Ninety One North America Inc. purchased a new position in MercadoLibre during the 4th quarter worth $4,923,000. Paragon Capital Management Inc. raised its position in MercadoLibre by 58.5% during the 4th quarter. Paragon Capital Management Inc. now owns 1,637 shares of the company’s stock worth $2,784,000 after buying an additional 604 shares during the last quarter. Vinland Capital Management Gestora de Recursos LTDA. purchased a new position in MercadoLibre during the 4th quarter worth $63,613,000. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in MercadoLibre during the 4th quarter worth $2,619,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Company Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, 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.