Zacks Investment Research downgraded shares of Netshoes (CAYMAN) Ltd (NASDAQ:NETS) from a hold rating to a sell rating in a report released on Wednesday morning.

According to Zacks, “Netshoes (Cayman) Limited is a sports and lifestyle online retailer primarily in Latin America. The company’s product includes athletic shoes, jerseys, apparels, accessories and sporting equipment of international, local and private brands as well as fashion. It operates primarily in Brazil, Argentina and Mexico. Netshoes (Cayman) Limited is headquartered in São Paulo, Brazil. “

Separately, Jefferies Group LLC downgraded shares of Netshoes (CAYMAN) from a buy rating to a hold rating in a research report on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $21.90.

Shares of Netshoes (NASDAQ NETS) traded down 2.34% during trading on Wednesday, hitting $13.76. 37,474 shares of the stock traded hands. The company has a 50 day moving average of $15.82 and a 200-day moving average of $17.56. Netshoes has a 1-year low of $10.52 and a 1-year high of $26.96. The company’s market cap is $322.47 million.

Netshoes (CAYMAN) (NASDAQ:NETS) last released its earnings results on Monday, August 14th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.22). Netshoes (CAYMAN) had a negative net margin of 7.62% and a negative return on equity of 41.82%. The business had revenue of $139.45 million for the quarter, compared to analyst estimates of $153.48 million. On average, equities analysts anticipate that Netshoes will post ($1.18) EPS for the current fiscal year.

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A number of institutional investors have recently added to or reduced their stakes in the business. Lord Abbett & CO. LLC acquired a new position in Netshoes (CAYMAN) during the 2nd quarter valued at about $17,846,000. Wasatch Advisors Inc. acquired a new position in Netshoes (CAYMAN) during the 2nd quarter valued at about $750,000. ICONIQ Capital LLC acquired a new position in Netshoes (CAYMAN) during the 2nd quarter valued at about $13,101,000. Kora Management LP acquired a new position in Netshoes (CAYMAN) during the 2nd quarter valued at about $9,229,000. Finally, Janus Henderson Group PLC acquired a new position in Netshoes (CAYMAN) during the 2nd quarter valued at about $5,492,000.

About Netshoes (CAYMAN)

Netshoes (Cayman) Limited is a sports and lifestyle online retailer in Latin America. The Company focuses on offering an online consumer platform in Latin America. The Company operates through two segments: Brazil and International. The Company operates in Brazil, Argentina, and Mexico. The Brazil segment consists of retail sales of consumer products from all of its verticals (which includes sales of sporting goods and related garments, as well as fashion and beauty goods) carried out through its sites Netshoes.com.br and Zattini.com.br and third-party sites that it manages, as well as its business to business offline operation.

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