BidaskClub Upgrades Mercadolibre (NASDAQ:MELI) to “Hold”

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

Several other research analysts also recently issued reports on MELI. Barclays lowered their price target on shares of Mercadolibre from $700.00 to $660.00 and set an “overweight” rating for the company in a report on Friday, November 1st. TheStreet downgraded shares of Mercadolibre from a “c” rating to a “d+” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. upgraded shares of Mercadolibre from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $563.00 to $750.00 in a report on Tuesday, August 13th. HSBC upgraded 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 report on Monday, September 9th. Finally, Deutsche Bank increased their price objective on Mercadolibre from $600.00 to $725.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the stock. Mercadolibre has a consensus rating of “Buy” and a consensus target price of $657.56.

Shares of NASDAQ:MELI traded up $3.32 during trading on Friday, hitting $536.33. 516,935 shares of the company were exchanged, compared to its average volume of 570,763. The business’s 50 day moving average is $533.97 and its 200-day moving average is $582.96. The company has a market capitalization of $27.35 billion, a P/E ratio of -654.06 and a beta of 1.61. The company has a quick ratio of 2.72, a current ratio of 2.73 and a debt-to-equity ratio of 0.38. Mercadolibre has a 1-year low of $257.52 and a 1-year high of $698.98.

Mercadolibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($2.96) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($2.97). The company had revenue of $603.03 million for the quarter, compared to analyst estimates of $588.23 million. Mercadolibre had a negative return on equity of 1.29% and a negative net margin of 5.87%. The firm’s quarterly revenue was up 69.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.23) earnings per share. As a group, sell-side analysts anticipate that Mercadolibre will post -1.15 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. NEXT Financial Group Inc boosted its position in Mercadolibre by 104.3% during the second quarter. NEXT Financial Group Inc now owns 47 shares of the company’s stock valued at $29,000 after acquiring an additional 24 shares during the last quarter. Bartlett & Co. LLC bought a new stake in Mercadolibre during the third quarter valued at $26,000. Lindbrook Capital LLC bought a new stake in Mercadolibre during the third quarter valued at $28,000. Reilly Financial Advisors LLC boosted its position in Mercadolibre by 64.5% during the third quarter. Reilly Financial Advisors LLC now owns 51 shares of the company’s stock valued at $28,000 after acquiring an additional 20 shares during the last quarter. Finally, CENTRAL TRUST Co boosted its position in Mercadolibre by 62.5% during the second quarter. CENTRAL TRUST Co now owns 52 shares of the company’s stock valued at $33,000 after acquiring an additional 20 shares during the last quarter. Institutional investors and hedge funds 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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