Cowen Reaffirms “Hold” Rating for MercadoLibre (NASDAQ:MELI)

Cowen reaffirmed their hold rating on shares of MercadoLibre (NASDAQ:MELI) in a report issued on Tuesday, April 17th. They currently have a $373.00 price objective on the stock.

Several other equities analysts also recently commented on MELI. BidaskClub downgraded shares of MercadoLibre from a buy rating to a hold rating in a research note on Tuesday, March 27th. Zacks Investment Research upgraded shares of MercadoLibre from a strong sell rating to a hold rating in a research note on Tuesday, January 9th. Stifel Nicolaus reiterated a buy rating and set a $425.00 target price (up previously from $415.00) on shares of MercadoLibre in a research note on Friday, February 23rd. ValuEngine upgraded shares of MercadoLibre from a hold rating to a buy rating in a research note on Thursday, March 1st. Finally, Goldman Sachs reiterated a neutral rating and set a $378.00 target price (up previously from $222.00) on shares of MercadoLibre in a research note on Thursday, February 8th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Hold and an average price target of $341.12.

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NASDAQ:MELI opened at $328.77 on Tuesday. The firm has a market capitalization of $14,592.24, a price-to-earnings ratio of 130.10 and a beta of 2.07. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.33 and a quick ratio of 1.33. 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 results on Thursday, February 22nd. The company reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.35). The business had revenue of $436.98 million during the quarter, compared to analyst estimates of $404.74 million. MercadoLibre had a return on equity of 26.75% and a net margin of 0.99%. sell-side analysts anticipate that MercadoLibre will post 1.93 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Eqis Capital Management Inc. boosted its stake in MercadoLibre by 2.2% in the fourth quarter. Eqis Capital Management Inc. now owns 7,065 shares of the company’s stock valued at $2,223,000 after acquiring an additional 153 shares in the last quarter. Parametrica Management Ltd boosted its stake in MercadoLibre by 17.9% in the fourth quarter. Parametrica Management Ltd now owns 1,214 shares of the company’s stock valued at $382,000 after acquiring an additional 184 shares in the last quarter. Dumac Inc. boosted its stake in MercadoLibre by 105.6% in the fourth quarter. Dumac Inc. now owns 370 shares of the company’s stock valued at $116,000 after acquiring an additional 190 shares in the last quarter. Pier 88 Investment Partners LLC boosted its stake in MercadoLibre by 10.7% in the fourth quarter. Pier 88 Investment Partners LLC now owns 2,020 shares of the company’s stock valued at $636,000 after acquiring an additional 195 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its stake in MercadoLibre by 17.1% in the fourth quarter. D.A. Davidson & CO. now owns 1,489 shares of the company’s stock valued at $469,000 after acquiring an additional 217 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

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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)

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