Mercadolibre (MELI) Downgraded by Stifel Nicolaus

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Mercadolibre (NASDAQ:MELI) was downgraded by equities research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, The Fly reports.

Other equities analysts have also recently issued reports about the stock. BTIG Research reaffirmed a “buy” rating and set a $410.00 target price on shares of Mercadolibre in a research note on Wednesday, January 16th. Credit Suisse Group raised their target price on shares of Mercadolibre from $387.00 to $398.00 and gave the company an “outperform” rating in a research note on Monday, January 28th. Deutsche Bank initiated coverage on shares of Mercadolibre in a research note on Tuesday, January 29th. They set a “hold” rating for the company. BidaskClub raised shares of Mercadolibre from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 6th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Mercadolibre from $430.00 to $515.00 and gave the stock an “overweight” rating in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Mercadolibre presently has an average rating of “Buy” and a consensus price target of $423.17.

MELI traded down $14.14 during trading on Thursday, hitting $493.79. 1,035,734 shares of the company traded hands, compared to its average volume of 692,248. The stock has a market capitalization of $22.77 billion, a price-to-earnings ratio of -602.18, a PEG ratio of 23.78 and a beta of 2.21. Mercadolibre has a 1 year low of $257.52 and a 1 year high of $514.90. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.29 and a current ratio of 1.30.

Mercadolibre (NASDAQ:MELI) last posted its earnings results on Tuesday, February 26th. The company reported ($0.05) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.10. The company had revenue of $428.00 million during the quarter, compared to analysts’ expectations of $400.80 million. Mercadolibre had a negative net margin of 2.54% and a negative return on equity of 13.47%. Mercadolibre’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period last year, the company posted ($1.53) earnings per share. On average, equities research analysts forecast that Mercadolibre will post 0.41 earnings per share for the current year.

Several large investors have recently modified their holdings of the business. Baillie Gifford & Co. grew its stake in shares of Mercadolibre by 2.3% in the 4th quarter. Baillie Gifford & Co. now owns 5,208,620 shares of the company’s stock worth $1,525,344,000 after buying an additional 117,948 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Mercadolibre by 345.8% in the 3rd quarter. Capital Research Global Investors now owns 2,692,759 shares of the company’s stock worth $916,804,000 after acquiring an additional 2,088,781 shares during the last quarter. FMR LLC lifted its holdings in shares of Mercadolibre by 11.3% in the 4th quarter. FMR LLC now owns 1,017,995 shares of the company’s stock worth $298,119,000 after acquiring an additional 103,215 shares during the last quarter. OppenheimerFunds Inc. lifted its holdings in shares of Mercadolibre by 25.7% in the 3rd quarter. OppenheimerFunds Inc. now owns 613,148 shares of the company’s stock worth $208,760,000 after acquiring an additional 125,484 shares during the last quarter. Finally, Capital International Investors lifted its holdings in shares of Mercadolibre by 2.1% in the 3rd quarter. Capital International Investors now owns 597,969 shares of the company’s stock worth $203,591,000 after acquiring an additional 12,443 shares during the last quarter. 90.56% of the stock is owned by institutional investors and hedge funds.

Mercadolibre Company Profile

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.

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Analyst Recommendations for Mercadolibre (NASDAQ:MELI)

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