Mercadolibre (NASDAQ:MELI) was downgraded by stock analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday.

MELI has been the subject of several other reports. Zacks Investment Research lowered Mercadolibre from a “hold” rating to a “sell” rating in a research note on Tuesday, July 31st. Piper Jaffray Companies boosted their price objective on Mercadolibre to $376.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 31st. Stifel Nicolaus upgraded Mercadolibre from a “hold” rating to a “buy” rating and set a $380.00 price objective for the company in a research note on Tuesday, August 21st. KeyCorp upgraded Mercadolibre from a “sector weight” rating to an “overweight” rating and set a $350.00 price objective for the company in a research note on Monday, June 25th. Finally, Credit Suisse Group boosted their price objective on Mercadolibre from $380.00 to $425.00 and gave the stock an “outperform” rating in a research note on Monday, July 16th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $356.92.

NASDAQ:MELI opened at $319.43 on Tuesday. Mercadolibre has a 12 month low of $217.06 and a 12 month high of $417.91. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 2.15. The company has a market cap of $14.42 billion, a price-to-earnings ratio of 126.26 and a beta of 2.07.

Mercadolibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, August 8th. The company reported ($0.25) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.04). Mercadolibre had a positive return on equity of 4.32% and a negative net margin of 4.39%. The firm had revenue of $335.40 million for the quarter, compared to analysts’ expectations of $333.98 million. During the same quarter last year, the firm posted $0.61 earnings per share. Mercadolibre’s quarterly revenue was up 18.1% on a year-over-year basis. equities research analysts forecast that Mercadolibre will post -0.44 earnings per share for the current year.

In related news, Director Meyer Malka purchased 16,518 shares of the company’s stock in a transaction dated Thursday, June 14th. The stock was acquired at an average cost of $301.39 per share, for a total transaction of $4,978,360.02. Following the completion of the transaction, the director now directly owns 1,708 shares of the company’s stock, valued at $514,774.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.32% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Morgan Stanley grew its position in shares of Mercadolibre by 3.2% in the second quarter. Morgan Stanley now owns 1,493,446 shares of the company’s stock valued at $446,435,000 after purchasing an additional 46,076 shares in the last quarter. FMR LLC grew its position in shares of Mercadolibre by 35.7% in the second quarter. FMR LLC now owns 1,454,121 shares of the company’s stock valued at $434,680,000 after purchasing an additional 382,384 shares in the last quarter. Waddell & Reed Financial Inc. grew its position in shares of Mercadolibre by 11.4% in the second quarter. Waddell & Reed Financial Inc. now owns 954,079 shares of the company’s stock valued at $285,203,000 after purchasing an additional 97,369 shares in the last quarter. OppenheimerFunds Inc. grew its position in shares of Mercadolibre by 310.9% in the second quarter. OppenheimerFunds Inc. now owns 487,664 shares of the company’s stock valued at $145,778,000 after purchasing an additional 368,989 shares in the last quarter. Finally, Zevenbergen Capital Investments LLC grew its position in shares of Mercadolibre by 6.7% in the second quarter. Zevenbergen Capital Investments LLC now owns 380,034 shares of the company’s stock valued at $113,604,000 after purchasing an additional 23,706 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Mercadolibre Company Profile

MercadoLibre, Inc hosts online commerce platforms in Latin America. It offers MercadoLibre Marketplace, an automated online commerce service for businesses and individuals to list items and conduct their sales and purchases online in a fixed-price or auction-based format. The company's Marketplace platform enables commerce through online classifieds for motor vehicles, vessels, aircraft, services, and real estate; and Internet users to browse through various products that are listed on its Website and to register with MercadoLibre to list and purchase items and services.

Further Reading: Should I invest in “strong buy” stocks?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Mercadolibre (NASDAQ:MELI)

Receive News & Ratings for Mercadolibre Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mercadolibre and related companies with MarketBeat.com's FREE daily email newsletter.