MercadoLibre (NASDAQ:MELI) Raised to “Hold” at Zacks Research

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

Several other brokerages have also recently commented on MELI. UBS Group dropped their price target on 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. The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a report on Wednesday, May 13th. Benchmark lowered their target price on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Citigroup lowered shares of MercadoLibre from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $2,200.00 to $1,950.00 in a report on Wednesday, May 13th. Finally, Cantor Fitzgerald reduced their target price on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $2,255.33.

View Our Latest Analysis on MELI

MercadoLibre Trading Up 0.4%

MELI stock opened at $1,873.88 on Monday. MercadoLibre has a 12-month low of $1,495.00 and a 12-month high of $2,548.50. The business’s 50-day moving average is $1,678.50 and its 200 day moving average is $1,824.88. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. The stock has a market cap 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 (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 firm 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 revenue was up 49.0% compared to the same quarter last year. During the same period in the previous year, the company earned $9.74 EPS. On average, sell-side analysts anticipate that MercadoLibre will post 40.97 EPS for the current fiscal year.

Insider Activity at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin purchased 600 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the acquisition, the director owned 5,355 shares in the company, valued at $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On MercadoLibre

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brown Advisory Inc. lifted 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 worth $30,943,000 after buying an additional 14,770 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its stake in shares of MercadoLibre by 238.3% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock worth $4,089,000 after acquiring an additional 1,430 shares in the last quarter. TIAA Trust National Association grew its stake in shares of MercadoLibre by 10.9% in 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 increased its position in shares of MercadoLibre by 38.6% during the fourth quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock worth $15,641,000 after acquiring an additional 2,164 shares during the period. Finally, Employees Retirement System of Texas increased its position in shares of MercadoLibre by 18.2% during the fourth 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 period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre News Summary

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.

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Analyst Recommendations for MercadoLibre (NASDAQ:MELI)

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