MercadoLibre (MELI) Receives “Hold” Rating from Cowen

Cowen reissued their hold rating on shares of MercadoLibre (NASDAQ:MELI) in a report released on Tuesday morning. Cowen currently has a $373.00 price objective on the stock.

MELI has been the topic of a number of other research reports. BidaskClub lowered MercadoLibre from a strong-buy rating to a buy rating in a research note on Tuesday, March 20th. Zacks Investment Research lowered MercadoLibre from a hold rating to a strong sell rating in a research note on Tuesday, March 27th. Stifel Nicolaus reaffirmed a buy rating and set a $415.00 price objective (up previously from $350.00) on shares of MercadoLibre in a research note on Sunday, January 28th. Credit Suisse Group reaffirmed an outperform rating and set a $385.00 price objective (up previously from $380.00) on shares of MercadoLibre in a research note on Monday, January 8th. Finally, TheStreet lowered MercadoLibre from a b rating to a c rating in a research note on Friday, February 23rd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $341.12.

How to Become a New Pot Stock Millionaire

MELI opened at $337.54 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.96. The firm has a market cap of $14,253.11, a P/E ratio of 127.08 and a beta of 2.07. MercadoLibre has a 52 week low of $217.06 and a 52 week high of $417.91.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.35). The company had revenue of $436.98 million for the quarter, compared to analyst estimates of $404.74 million. MercadoLibre had a net margin of 0.99% and a return on equity of 26.75%. equities analysts predict that MercadoLibre will post 1.85 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KAMES CAPITAL plc purchased a new position in MercadoLibre during the fourth quarter worth about $49,860,000. USS Investment Management Ltd purchased a new position in shares of MercadoLibre in the 4th quarter worth about $26,276,000. Global X Management Co. LLC raised its holdings in shares of MercadoLibre by 20.0% in the 4th quarter. Global X Management Co. LLC now owns 155,469 shares of the company’s stock worth $48,920,000 after purchasing an additional 25,904 shares during the period. Jennison Associates LLC raised its holdings in shares of MercadoLibre by 9.4% in the 4th quarter. Jennison Associates LLC now owns 831,137 shares of the company’s stock worth $261,526,000 after purchasing an additional 71,206 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC raised its holdings in shares of MercadoLibre by 2.3% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 131,884 shares of the company’s stock worth $41,499,000 after purchasing an additional 2,932 shares during the period. Hedge funds and other institutional investors own 92.15% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This news story was originally posted by Week Herald and is the sole property of of Week Herald. If you are viewing this news story on another domain, it was illegally stolen and republished in violation of U.S. and international copyright and trademark legislation. The original version of this news story can be accessed at https://weekherald.com/2018/04/18/mercadolibre-meli-receives-hold-rating-from-cowen.html.

About MercadoLibre

MercadoLibre, Inc hosts online commerce platforms in Latin America. It offers MercadoLibre Marketplace, an automated online commerce service for businesses and individuals to list items and conduct their sales and purchases online in a fixed-price or auction-based format. The company's Marketplace platform enables commerce through online classifieds for motor vehicles, vessels, aircraft, services, and real estate; and Internet users to browse through various products that are listed on its Website and to register with MercadoLibre to list and purchase items and services.

Analyst Recommendations for MercadoLibre (NASDAQ:MELI)

Receive News & Ratings for MercadoLibre Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MercadoLibre and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply