MercadoLibre (NASDAQ:MELI) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of MercadoLibre (NASDAQ:MELIFree Report) from a strong sell rating to a hold rating in a research report sent to investors on Monday,Zacks.com reports.

Several other brokerages have also recently commented on MELI. Morgan Stanley dropped their price target on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Raymond James Financial set a $2,000.00 price objective on shares of MercadoLibre in a research report on Friday, May 8th. BTIG Research reaffirmed a “buy” rating and issued a $2,150.00 price objective on shares of MercadoLibre in a research note on Tuesday, June 2nd. The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a report on Wednesday, May 13th. Finally, JPMorgan Chase & Co. cut their target price on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2,255.33.

Check Out Our Latest Research Report on MELI

MercadoLibre Stock Up 0.4%

Shares of MELI stock opened at $1,873.88 on Monday. MercadoLibre has a 1 year low of $1,495.00 and a 1 year high of $2,548.50. The stock has a market cap of $95.01 billion, a PE ratio of 49.46, a price-to-earnings-growth ratio of 1.15 and a beta of 1.35. The business’s fifty day moving average is $1,678.50 and its 200-day moving average is $1,824.88. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16.

MercadoLibre (NASDAQ:MELIGet Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing the consensus estimate of $8.75 by ($0.52). The firm had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The company’s quarterly revenue was up 49.0% compared to the same quarter last year. During the same quarter last year, the company earned $9.74 EPS. Equities analysts expect that MercadoLibre will post 40.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were purchased at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the acquisition, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.26% of the company’s stock.

Institutional Trading of MercadoLibre

Hedge funds have recently bought and sold shares of the company. Laurel Wealth Advisors LLC purchased a new position in shares of MercadoLibre in the fourth quarter worth approximately $26,000. Transamerica Financial Advisors LLC purchased a new stake in shares of MercadoLibre in the 4th quarter valued at approximately $26,000. Purpose Unlimited Inc. purchased a new stake in shares of MercadoLibre in the 4th quarter valued at approximately $28,000. Darwin Wealth Management LLC acquired a new position in MercadoLibre in the 2nd quarter worth approximately $29,000. Finally, Curio Wealth LLC acquired a new position in MercadoLibre in the 4th quarter worth approximately $30,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting MercadoLibre

Here are the key news stories impacting MercadoLibre this week:

MercadoLibre Company Profile

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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.

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Analyst Recommendations for MercadoLibre (NASDAQ:MELI)

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