MercadoLibre (NASDAQ:MELI) Cut to Sell at StockNews.com

MercadoLibre (NASDAQ:MELI – Get Rating) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Friday.

Several other research analysts have also recently commented on the company. Bradesco Corretora raised MercadoLibre from a “neutral” rating to an “outperform” rating in a research report on Friday, February 25th. Credit Suisse Group cut their price objective on MercadoLibre from $1,685.00 to $1,440.00 in a research report on Monday, May 2nd. TheStreet raised MercadoLibre from a “d+” rating to a “c-” rating in a report on Friday, May 6th. Citigroup dropped their price target on MercadoLibre from $1,500.00 to $1,150.00 and set a “buy” rating for the company in a report on Thursday, June 9th. Finally, KGI Securities assumed coverage on MercadoLibre in a report on Monday, June 6th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,649.00.

Shares of MercadoLibre stock opened at $698.64 on Friday. MercadoLibre has a 1 year low of $600.68 and a 1 year high of $1,970.13. The business has a 50-day moving average of $829.86 and a two-hundred day moving average of $1,022.73. The company has a market capitalization of $35.20 billion, a P/E ratio of 190.37 and a beta of 1.58. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.40 and a quick ratio of 1.36.

MercadoLibre (NASDAQ:MELI – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.36). MercadoLibre had a return on equity of 21.93% and a net margin of 2.30%. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter last year, the company earned $0.31 earnings per share. The firm’s revenue was up 63.1% compared to the same quarter last year. On average, equities analysts anticipate that MercadoLibre will post 6.59 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. Retirement Planning Co of New England Inc. bought a new stake in MercadoLibre during the 4th quarter worth approximately $26,000. Future Financial Wealth Managment LLC bought a new stake in MercadoLibre during the 4th quarter worth approximately $27,000. Ahrens Investment Partners LLC bought a new stake in MercadoLibre during the 4th quarter worth approximately $27,000. Masso Torrence Wealth Management Inc. bought a new stake in MercadoLibre during the 4th quarter worth approximately $31,000. Finally, UMB Bank N A MO increased its holdings in MercadoLibre by 550.0% during the 1st quarter. UMB Bank N A MO now owns 26 shares of the company’s stock worth $31,000 after purchasing an additional 22 shares in the last quarter. 79.61% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Company Profile (Get Rating)

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; and Mercado Pago 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, as well as allows users to transfer money through their websites or on the apps.

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