Mercadolibre (NASDAQ:MELI) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Wednesday, BidAskClub reports.

Several other research firms have also recently weighed in on MELI. BTIG Research raised shares of Mercadolibre from a “neutral” rating to a “buy” rating and set a $720.00 price target on the stock in a report on Monday. Piper Jaffray Companies increased their price target on shares of Mercadolibre from $584.00 to $675.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Cowen set a $651.00 price target on shares of Mercadolibre and gave the company a “hold” rating in a report on Monday, August 12th. Stifel Nicolaus increased their price target on shares of Mercadolibre from $560.00 to $650.00 and gave the company a “hold” rating in a report on Thursday, August 8th. Finally, HSBC raised shares of Mercadolibre from a “hold” rating to a “buy” rating and increased their price target for the company from $575.00 to $800.00 in a report on Monday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Mercadolibre has a consensus rating of “Buy” and a consensus price target of $665.69.

Shares of Mercadolibre stock traded down $7.28 during trading hours on Wednesday, reaching $564.45. 10,329 shares of the company’s stock were exchanged, compared to its average volume of 405,935. Mercadolibre has a fifty-two week low of $257.52 and a fifty-two week high of $698.98. The stock has a market cap of $27.30 billion, a P/E ratio of -688.45 and a beta of 1.71. The company has a 50 day moving average of $615.85 and a two-hundred day moving average of $564.68. The company has a current ratio of 2.54, a quick ratio of 2.53 and a debt-to-equity ratio of 0.36.

Mercadolibre (NASDAQ:MELI) last issued its earnings results on Wednesday, August 7th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.03. Mercadolibre had a net margin of 0.87% and a return on equity of 1.24%. The business had revenue of $545.24 million during the quarter, compared to the consensus estimate of $507.68 million. During the same period last year, the business posted ($0.25) EPS. Mercadolibre’s revenue was up 62.6% on a year-over-year basis. As a group, analysts expect that Mercadolibre will post 0.58 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Invesco Ltd. increased its stake in Mercadolibre by 112.9% in the second quarter. Invesco Ltd. now owns 1,020,646 shares of the company’s stock valued at $624,402,000 after acquiring an additional 541,277 shares during the last quarter. FMR LLC increased 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 acquiring an additional 252,698 shares during the last quarter. Viking Global Investors LP increased its stake in Mercadolibre by 39.7% in the second quarter. Viking Global Investors LP now owns 854,831 shares of the company’s stock valued at $522,960,000 after acquiring an additional 242,962 shares during the last quarter. Whale Rock Capital Management LLC boosted its position in Mercadolibre by 146.1% in the second quarter. Whale Rock Capital Management LLC now owns 186,912 shares of the company’s stock valued at $114,347,000 after buying an additional 110,960 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in Mercadolibre by 74.4% in the second quarter. Bank of America Corp DE now owns 250,328 shares of the company’s stock valued at $153,144,000 after buying an additional 106,832 shares in the last quarter. 83.69% of the stock is currently owned by institutional investors.

Mercadolibre Company Profile

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.

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Analyst Recommendations for Mercadolibre (NASDAQ:MELI)

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