MercadoLibre (NASDAQ:MELI) Lowered to Hold Rating by StockNews.com

StockNews.com downgraded shares of MercadoLibre (NASDAQ:MELI - Free Report) from a buy rating to a hold rating in a report issued on Friday.

Several other research firms also recently commented on MELI. Susquehanna raised their price target on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a research note on Friday, February 21st. Barclays raised their price target on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Cantor Fitzgerald cut their target price on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. New Street Research raised shares of MercadoLibre from a "neutral" rating to a "buy" rating and raised their target price for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Finally, Morgan Stanley reissued an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy 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 $2,521.33.

MercadoLibre Trading Down 0.1%

MELI stock traded down $1.57 during trading on Friday, hitting $2,584.92. The company had a trading volume of 279,704 shares, compared to its average volume of 383,139. The firm has a market capitalization of $131.05 billion, a P/E ratio of 68.57, a PEG ratio of 1.12 and a beta of 1.61. MercadoLibre has a 52-week low of $1,550.00 and a 52-week high of $2,610.30. The company has a 50 day simple moving average of $2,135.04 and a 200-day simple moving average of $1,999.73. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping the consensus estimate of $7.82 by $1.92. The company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm's revenue was up 37.0% compared to the same quarter last year. During the same quarter last year, the firm posted $6.78 EPS. As a group, research analysts forecast that MercadoLibre will post 43.96 earnings per share for the current fiscal year.

Institutional Trading of MercadoLibre

Institutional investors have recently bought and sold shares of the stock. Key Financial Inc acquired a new stake in MercadoLibre during the 1st quarter valued at approximately $25,000. GW&K Investment Management LLC acquired a new stake in MercadoLibre during the 1st quarter valued at approximately $25,000. Human Investing LLC acquired a new stake in MercadoLibre during the 4th quarter valued at approximately $26,000. Park Square Financial Group LLC acquired a new stake in MercadoLibre during the 4th quarter valued at approximately $26,000. Finally, Pacific Capital Wealth Advisors Inc. lifted its stake in MercadoLibre by 220.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock valued at $27,000 after acquiring an additional 11 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Company Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, 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.