Mercadolibre Inc (NASDAQ:MELI) has received a consensus recommendation of “Hold” from the seventeen ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $549.64.
Several equities research analysts have recently issued reports on MELI shares. BidaskClub upgraded Mercadolibre from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 6th. Credit Suisse Group raised their price objective on Mercadolibre from $420.00 to $520.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Bank of America restated a “buy” rating and set a $600.00 price objective on shares of Mercadolibre in a report on Wednesday, April 3rd. BBA Icatu Securities lowered Mercadolibre from an “outperform” rating to an “underperform” rating and increased their target price for the stock from $400.00 to $520.00 in a research report on Wednesday, May 8th. Finally, BTIG Research lowered Mercadolibre from a “buy” rating to a “neutral” rating and set a $561.01 target price on the stock. in a research report on Tuesday, June 4th.
Institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC purchased a new position in shares of Mercadolibre in the 1st quarter worth $3,985,000. Raymond James Financial Services Advisors Inc. raised its position in Mercadolibre by 21.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 2,962 shares of the company’s stock valued at $1,504,000 after purchasing an additional 526 shares during the period. LPL Financial LLC raised its position in Mercadolibre by 4.6% in the fourth quarter. LPL Financial LLC now owns 7,485 shares of the company’s stock valued at $2,192,000 after purchasing an additional 328 shares during the period. Hudson Bay Capital Management LP purchased a new position in Mercadolibre in the fourth quarter valued at about $3,221,000. Finally, National Pension Service raised its position in Mercadolibre by 4.7% in the fourth quarter. National Pension Service now owns 54,721 shares of the company’s stock valued at $19,691,000 after purchasing an additional 2,452 shares during the period. 84.67% of the stock is currently owned by institutional investors and hedge funds.
Mercadolibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.14. Mercadolibre had a negative return on equity of 1.55% and a negative net margin of 0.74%. The business had revenue of $474.00 million for the quarter, compared to analysts’ expectations of $423.19 million. During the same quarter last year, the firm earned ($0.29) earnings per share. The business’s revenue was up 47.7% on a year-over-year basis. As a group, sell-side analysts forecast that Mercadolibre will post 1.16 EPS for the current year.
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.
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