MercadoLibre (NASDAQ:MELI) Lowered to Strong Sell Rating by Zacks Research

Zacks Research cut shares of MercadoLibre (NASDAQ:MELI) from a hold rating to a strong sell rating in a research report released on Wednesday morning,Zacks.com reports.

Other research analysts also recently issued research reports about the company. UBS Group decreased their price objective on MercadoLibre from $2,900.00 to $2,700.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Wedbush decreased their price objective on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Itau BBA Securities reiterated an “outperform” rating on shares of MercadoLibre in a report on Wednesday, February 25th. Cantor Fitzgerald cut their target price on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. cut MercadoLibre from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $2,650.00 to $2,100.00 in a research note on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,685.33.

MercadoLibre Stock Down 2.8%

MELI opened at $1,809.20 on Wednesday. The company has a market cap of $91.73 billion, a P/E ratio of 45.92, a P/E/G ratio of 0.90 and a beta of 1.49. The business’s 50-day moving average price is $1,779.53 and its 200-day moving average price is $1,987.40. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. MercadoLibre has a 12 month low of $1,593.21 and a 12 month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Saturday, February 14th. The company reported $11.03 EPS for the quarter. The firm had revenue of $8.76 billion for the quarter. MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%. On average, equities analysts expect that MercadoLibre will post 50.05 EPS for the current year.

Institutional Trading of MercadoLibre

Several large investors have recently bought and sold shares of MELI. Laurel Wealth Advisors LLC bought a new stake in MercadoLibre during the 4th quarter valued at approximately $26,000. Transamerica Financial Advisors LLC bought a new stake in MercadoLibre during the 4th quarter valued at approximately $26,000. Purpose Unlimited Inc. bought a new stake in MercadoLibre during the 4th quarter valued at approximately $28,000. Darwin Wealth Management LLC bought a new stake in MercadoLibre during the 2nd quarter valued at approximately $29,000. Finally, Curio Wealth LLC bought a new stake in MercadoLibre during the 4th quarter valued at approximately $30,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.