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

Key Points

• Zacks Research downgraded MercadoLibre (MELI) from a "hold" to a strong sell in a research note published Wednesday.
• Several firms have cut price targets (UBS, Cantor Fitzgerald, Barclays), yet MarketBeat shows a consensus of Moderate Buy with an average price target of $2,685.33.
• Shares opened at $1,809.20, trading in a 12‑month range of $1,593.21–$2,645.22 with a market cap of $91.73B and P/E of 45.92; the company reported quarterly EPS of $11.03 on $8.76B revenue (net margin 6.91%).

MercadoLibre (NASDAQ:MELI - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued on Wednesday,Zacks.com reports.

MELI has been the subject of several other research reports. UBS Group decreased their price target on MercadoLibre from $2,900.00 to $2,700.00 and set a "buy" rating for the company in a research note on Friday, February 27th. Itau BBA Securities reiterated an "outperform" rating on shares of MercadoLibre in a report on Wednesday, February 25th. Cantor Fitzgerald decreased their target price on MercadoLibre from $2,400.00 to $2,350.00 and set an "overweight" rating for the company in a research report on Tuesday. Weiss Ratings cut shares of MercadoLibre from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, January 8th. Finally, Barclays dropped their price target on shares of MercadoLibre from $2,600.00 to $2,500.00 and set an "overweight" rating on the stock in a report on Monday. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, MercadoLibre has a consensus rating of "Moderate Buy" and an average price target of $2,685.33.

MercadoLibre Price Performance

Shares of MELI stock opened at $1,809.20 on Wednesday. The business's fifty day moving average is $1,779.53 and its 200 day moving average is $1,987.40. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.68. The stock has a market cap of $91.73 billion, a price-to-earnings ratio of 45.92, a PEG ratio of 0.90 and a beta of 1.49. MercadoLibre has a twelve month low of $1,593.21 and a twelve month high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Saturday, February 14th. The company reported $11.03 earnings per share for the quarter. MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. The company had revenue of $8.76 billion during the quarter. Research analysts expect that MercadoLibre will post 50.05 EPS for the current fiscal year.

Institutional Trading of MercadoLibre

A number of hedge funds have recently bought and sold shares of the company. Bison Wealth LLC bought a new position in MercadoLibre in the fourth quarter valued at about $206,000. Empowered Funds LLC grew its stake in shares of MercadoLibre by 6.9% during the 1st quarter. Empowered Funds LLC now owns 760 shares of the company's stock valued at $1,483,000 after purchasing an additional 49 shares during the period. Focus Partners Wealth increased its position in shares of MercadoLibre by 42.0% during the 1st quarter. Focus Partners Wealth now owns 602 shares of the company's stock valued at $1,176,000 after purchasing an additional 178 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of MercadoLibre during the 2nd quarter valued at about $261,000. Finally, Gamco Investors INC. ET AL lifted its stake in shares of MercadoLibre by 21.4% in the 2nd quarter. Gamco Investors INC. ET AL now owns 170 shares of the company's stock worth $444,000 after purchasing an additional 30 shares during the period. Hedge funds and other institutional investors own 87.62% of the company's stock.

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.

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