MercadoLibre (NASDAQ:MELI) Lowered to "Hold" Rating by Wall Street Zen

MercadoLibre (NASDAQ:MELI - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Sunday.

Several other research analysts also recently weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Barclays upped their price objective on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. The Goldman Sachs Group upped their price objective on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Cantor Fitzgerald dropped their price objective on shares of MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating for the company in a research note on Wednesday, June 11th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and two have assigned 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 price target of $2,632.50.

MercadoLibre Trading Up 0.0%

Shares of MELI stock opened at $2,403.81 on Friday. The firm has a 50-day moving average price of $2,387.65 and a 200 day moving average price of $2,089.54. MercadoLibre has a twelve month low of $1,563.21 and a twelve month high of $2,635.88. The company has a market capitalization of $121.87 billion, a price-to-earnings ratio of 59.12, a PEG ratio of 1.34 and a beta of 1.51. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating the consensus estimate of $7.82 by $1.92. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter in the previous year, the company posted $6.78 EPS. The firm's revenue for the quarter was up 37.0% on a year-over-year basis. Research analysts forecast that MercadoLibre will post 43.96 earnings per share for the current fiscal year.

Institutional Trading of MercadoLibre

Institutional investors and hedge funds have recently bought and sold shares of the business. Key Financial Inc acquired a new stake in MercadoLibre during the 1st quarter worth approximately $25,000. GW&K Investment Management LLC purchased a new position in MercadoLibre in the 1st quarter worth approximately $25,000. Close Asset Management Ltd boosted its holdings in MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after acquiring an additional 11 shares during the period. Park Square Financial Group LLC purchased a new position in MercadoLibre in the 4th quarter worth approximately $26,000. Finally, Brooklyn Investment Group boosted its holdings in MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company's stock worth $29,000 after acquiring an additional 13 shares during the period. Institutional investors and hedge funds own 87.62% of the company's stock.

About MercadoLibre

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.