Cowen Reaffirms “Hold” Rating for MercadoLibre (MELI)

MercadoLibre (NASDAQ:MELI)‘s stock had its “hold” rating reiterated by analysts at Cowen in a research report issued to clients and investors on Tuesday. They presently have a $373.00 price target on the stock. Cowen’s target price suggests a potential upside of 15.56% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. BidaskClub raised shares of MercadoLibre from a “buy” rating to a “strong-buy” rating in a report on Friday, January 5th. Citigroup lowered shares of MercadoLibre from a “neutral” rating to a “sell” rating and set a $230.00 target price for the company. in a report on Wednesday, December 20th. Stifel Nicolaus reissued a “buy” rating and issued a $415.00 target price (up from $350.00) on shares of MercadoLibre in a report on Sunday, January 28th. JPMorgan Chase raised shares of MercadoLibre from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 28th. Finally, TheStreet lowered shares of MercadoLibre from a “b” rating to a “c” rating in a report on Friday, February 23rd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. MercadoLibre presently has an average rating of “Hold” and an average target price of $341.12.

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Shares of MELI opened at $322.78 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.96. MercadoLibre has a 1 year low of $216.00 and a 1 year high of $417.91. The company has a market cap of $14,557.36, a price-to-earnings ratio of 127.58 and a beta of 2.07.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, February 22nd. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.35). MercadoLibre had a net margin of 0.99% and a return on equity of 26.75%. The business had revenue of $436.98 million during the quarter, compared to analysts’ expectations of $404.74 million. analysts forecast that MercadoLibre will post 1.85 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jennison Associates LLC boosted its stake in MercadoLibre by 9.4% during the fourth quarter. Jennison Associates LLC now owns 831,137 shares of the company’s stock worth $261,526,000 after buying an additional 71,206 shares during the period. Whale Rock Capital Management LLC boosted its stake in MercadoLibre by 79.7% during the fourth quarter. Whale Rock Capital Management LLC now owns 333,839 shares of the company’s stock worth $105,046,000 after buying an additional 148,085 shares during the period. Dynamo Administracao de Recursos Ltda. purchased a new position in MercadoLibre during the fourth quarter worth $98,072,000. WCM Investment Management CA boosted its stake in MercadoLibre by 1.1% during the fourth quarter. WCM Investment Management CA now owns 242,905 shares of the company’s stock worth $76,433,000 after buying an additional 2,549 shares during the period. Finally, Northcape Capital Pty Ltd boosted its stake in MercadoLibre by 56.6% during the fourth quarter. Northcape Capital Pty Ltd now owns 172,169 shares of the company’s stock worth $54,175,000 after buying an additional 62,262 shares during the period. 92.15% of the stock is owned by institutional investors.

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About MercadoLibre

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.

Analyst Recommendations for MercadoLibre (NASDAQ:MELI)

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