ValuEngine lowered shares of Mercadolibre (NASDAQ:MELI) from a strong-buy rating to a buy rating in a research note published on Monday, ValuEngine reports.

Other research analysts have also recently issued reports about the company. Barclays reissued a buy rating on shares of Mercadolibre in a research report on Sunday, May 5th. Zacks Investment Research raised Mercadolibre from a hold rating to a buy rating and set a $608.00 price target for the company in a research report on Friday, May 10th. Susquehanna Bancshares raised Mercadolibre from a negative rating to a neutral rating in a research report on Friday, May 3rd.
BidaskClub cut Mercadolibre from a buy rating to a hold rating in a research report on Tuesday, April 30th. Finally, Piper Jaffray Companies increased their price target on Mercadolibre from $442.00 to $504.00 and gave the company an overweight rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $498.08.

MELI stock opened at $568.77 on Monday. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.34. The stock has a market cap of $28.14 billion, a PE ratio of -693.62 and a beta of 1.84. Mercadolibre has a fifty-two week low of $257.52 and a fifty-two week high of $611.96.

Mercadolibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.14. Mercadolibre had a negative return on equity of 1.55% and a negative net margin of 0.74%. The firm had revenue of $474.00 million during the quarter, compared to analysts’ expectations of $423.19 million. During the same period in the prior year, the firm posted ($0.29) earnings per share. The business’s quarterly revenue was up 47.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Mercadolibre will post 1.16 EPS for the current fiscal year.

In other Mercadolibre news, Director Emiliano Calemzuk acquired 120 shares of the company’s stock in a transaction on Saturday, March 9th. The shares were purchased at an average price of $414.14 per share, for a total transaction of $49,696.80. Following the completion of the purchase, the director now directly owns 2,669 shares of the company’s stock, valued at $1,105,339.66. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.40% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in MELI. Viking Global Investors LP bought a new stake in Mercadolibre in the first quarter valued at approximately $310,664,000. Norges Bank bought a new stake in Mercadolibre in the fourth quarter valued at approximately $110,161,000. FMR LLC raised its stake in Mercadolibre by 24.8% in the first quarter. FMR LLC now owns 1,270,693 shares of the company’s stock valued at $645,170,000 after buying an additional 252,698 shares during the period. Renaissance Technologies LLC bought a new stake in Mercadolibre in the first quarter valued at approximately $118,961,000. Finally, Coronation Fund Managers Ltd. raised its stake in Mercadolibre by 22,651.7% in the fourth quarter. Coronation Fund Managers Ltd. now owns 219,099 shares of the company’s stock valued at $64,163,000 after buying an additional 218,136 shares during the period. Hedge funds and other institutional investors own 84.67% 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.

Featured Story: Hedge Funds – How They Work For Investors

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's FREE daily email newsletter.