Weiss Ratings Reiterates Buy (B) Rating for MercadoLibre (NASDAQ:MELI)

Key Points

• Weiss Ratings has maintained a "buy" rating for MercadoLibre (NASDAQ:MELI) in a recent research report, reinforcing positive sentiment despite mixed ratings from other firms.
• MercadoLibre's stock is currently at approximately $2,179.89 with a 12-month high of $2,645.22 and a 12-month low of $1,646.00, indicating significant price fluctuations over the year.
• The company reported earnings of $10.31 per share for the last quarter, which was below analysts' expectations, although its revenue of $6.79 billion exceeded forecasts.

MercadoLibre (NASDAQ:MELI - Get Free Report)'s stock had its "buy (b)" rating restated by equities researchers at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Several other research firms also recently weighed in on MELI. Wall Street Zen downgraded MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. JPMorgan Chase & Co. dropped their price target on MercadoLibre from $2,700.00 to $2,600.00 and set a "neutral" rating for the company in a research note on Friday, October 3rd. Citigroup dropped their price target on MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating for the company in a research note on Monday, August 18th. Benchmark restated a "buy" rating and set a $2,875.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Wedbush set a $2,700.00 price target on MercadoLibre and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, MercadoLibre presently has a consensus rating of "Moderate Buy" and an average price target of $2,822.78.

MercadoLibre Stock Performance

NASDAQ MELI opened at $2,179.89 on Wednesday. The business's 50-day moving average price is $2,370.32 and its 200 day moving average price is $2,343.65. MercadoLibre has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The company has a market capitalization of $110.51 billion, a PE ratio of 53.84, a price-to-earnings-growth ratio of 1.46 and a beta of 1.46. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business had revenue of $6.79 billion for the quarter, compared to analysts' expectations of $6.57 billion. During the same quarter last year, the company posted $10.48 earnings per share. The business's quarterly revenue was up 33.8% compared to the same quarter last year. On average, research analysts predict that MercadoLibre will post 43.96 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MELI. Key Financial Inc acquired a new position in shares of MercadoLibre in the 1st quarter worth approximately $25,000. GW&K Investment Management LLC bought a new stake in MercadoLibre during the 1st quarter valued at $25,000. Close Asset Management Ltd raised its stake in shares of 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 buying an additional 11 shares in the last quarter. Brooklyn Investment Group raised its stake in shares of MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company's stock worth $29,000 after buying an additional 13 shares in the last quarter. Finally, Twin Tree Management LP acquired a new position in shares of MercadoLibre in the 1st quarter worth $29,000. 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.

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