MercadoLibre (NASDAQ:MELI) Upgraded by Zacks Research to “Hold” Rating

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

A number of other research analysts have also issued reports on MELI. Raymond James Financial set a $2,000.00 target price on MercadoLibre in a report on Friday, May 8th. Daiwa Securities Group cut shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective for the company. in a research note on Friday, May 8th. Barclays lowered their price objective on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Finally, UBS Group cut their price objective on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. One 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 company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2,255.33.

Read Our Latest Report on MELI

MercadoLibre Trading Up 0.4%

NASDAQ MELI opened at $1,873.88 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The firm’s fifty day moving average is $1,678.50 and its two-hundred day moving average is $1,824.88. MercadoLibre has a one year low of $1,495.00 and a one year high of $2,548.50. The firm has a market cap of $95.01 billion, a PE ratio of 49.46, a P/E/G ratio of 1.15 and a beta of 1.35.

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

Insider Activity

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the stock in a transaction on Friday, May 22nd. The shares were acquired at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the purchase, the director directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This trade represents a 12.62% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Laurel Wealth Advisors LLC purchased a new stake in MercadoLibre during the fourth quarter valued at approximately $26,000. Transamerica Financial Advisors LLC bought a new stake in shares of MercadoLibre in the 4th quarter worth about $26,000. Purpose Unlimited Inc. bought a new position in MercadoLibre during the fourth quarter valued at $28,000. Darwin Wealth Management LLC purchased a new stake in shares of MercadoLibre during the second quarter valued at $29,000. Finally, Curio Wealth LLC bought a new stake in shares of MercadoLibre in the fourth quarter valued at about $30,000. 87.62% of the stock is currently owned by institutional investors.

Key MercadoLibre News

Here are the key news stories impacting MercadoLibre this week:

About MercadoLibre

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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.

Further Reading

Analyst Recommendations for MercadoLibre (NASDAQ:MELI)

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