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

StockNews.com downgraded shares of MercadoLibre (NASDAQ:MELI) from a buy rating to a hold rating in a research note released on Saturday.

A number of other research analysts also recently weighed in on MELI. Jefferies Financial Group upgraded shares of MercadoLibre from a hold rating to a buy rating and upped their price objective for the stock from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. The Goldman Sachs Group boosted their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a buy rating in a report on Thursday. JPMorgan Chase & Co. upped their price target on shares of MercadoLibre from $2,150.00 to $2,400.00 and gave the stock an overweight rating in a research report on Tuesday, August 6th. New Street Research downgraded MercadoLibre from a buy rating to a neutral rating in a research report on Friday, May 24th. Finally, UBS Group decreased their price objective on MercadoLibre from $1,900.00 to $1,800.00 and set a buy rating on the stock in a report on Wednesday, April 17th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, MercadoLibre presently has a consensus rating of Moderate Buy and an average price target of $1,998.33.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI traded up $14.22 during trading on Friday, hitting $1,883.62. The stock had a trading volume of 232,949 shares, compared to its average volume of 371,967. The stock has a 50-day simple moving average of $1,660.26 and a two-hundred day simple moving average of $1,624.94. The stock has a market capitalization of $95.49 billion, a price-to-earnings ratio of 84.28, a price-to-earnings-growth ratio of 1.13 and a beta of 1.60. MercadoLibre has a 12-month low of $1,141.04 and a 12-month high of $1,909.80. The company has a quick ratio of 1.25, a current ratio of 1.27 and a debt-to-equity ratio of 0.66.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating the consensus estimate of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 45.61%. The business had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. The business’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same period in the previous year, the business posted $5.16 EPS. On average, equities research analysts expect that MercadoLibre will post 33.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MercadoLibre

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after purchasing an additional 16 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of MercadoLibre during the fourth quarter valued at $28,000. First PREMIER Bank purchased a new position in MercadoLibre in the 1st quarter worth about $27,000. Archer Investment Corp acquired a new stake in MercadoLibre during the 4th quarter worth about $31,000. Finally, Financial Connections Group Inc. purchased a new stake in MercadoLibre during the second quarter valued at about $36,000. 87.62% of the stock is owned by institutional investors.

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.