MercadoLibre (NASDAQ:MELI) Upgraded to Hold at Zacks Research

MercadoLibre (NASDAQ:MELIGet Free Report) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other analysts have also recently commented on the company. Daiwa Securities Group cut MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target for the company. in a report on Friday, May 8th. Scotiabank decreased their target price on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 7th. Raymond James Financial set a $2,000.00 target price on shares of MercadoLibre in a report on Friday, May 8th. Cantor Fitzgerald dropped their price target on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. Finally, JPMorgan Chase & Co. decreased their price target on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $2,255.33.

Read Our Latest Analysis on MELI

MercadoLibre Trading Up 0.4%

Shares of MercadoLibre stock opened at $1,873.88 on Monday. The firm has a market capitalization of $95.01 billion, a price-to-earnings ratio of 49.46, a PEG ratio of 1.15 and a beta of 1.35. MercadoLibre has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50. The stock has a 50 day moving average of $1,678.50 and a 200 day moving average of $1,824.88. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16.

MercadoLibre (NASDAQ:MELIGet Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). The business had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The firm’s revenue for the quarter was up 49.0% on a year-over-year basis. During the same quarter last year, the company earned $9.74 earnings per share. As a group, research analysts predict that MercadoLibre will post 40.97 earnings per share for the current year.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of MercadoLibre stock in a transaction dated Friday, May 22nd. The shares were bought at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the purchase, the director owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.26% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MercadoLibre

Several institutional investors have recently bought and sold shares of the company. Brown Advisory Inc. raised its holdings in MercadoLibre by 2,494.9% during the 4th quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock valued at $30,943,000 after acquiring an additional 14,770 shares during the period. Thompson Siegel & Walmsley LLC boosted its holdings in shares of MercadoLibre by 238.3% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock worth $4,089,000 after purchasing an additional 1,430 shares in the last quarter. TIAA Trust National Association raised its stake in shares of MercadoLibre by 10.9% during the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock worth $22,179,000 after acquiring an additional 1,083 shares in the last quarter. Deepwater Asset Management LLC lifted its stake in MercadoLibre by 38.6% in the fourth quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock worth $15,641,000 after purchasing an additional 2,164 shares during the last quarter. Finally, Employees Retirement System of Texas grew its position in MercadoLibre by 18.2% during the 4th quarter. Employees Retirement System of Texas now owns 40,184 shares of the company’s stock worth $80,941,000 after acquiring an additional 6,200 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre News Roundup

Here are the key news stories impacting MercadoLibre this week:

MercadoLibre Company Profile

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MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.

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Analyst Recommendations for MercadoLibre (NASDAQ:MELI)

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