Investment analysts at Goldman Sachs Group began coverage on shares of Mercadolibre (NASDAQ:MELI) in a note issued to investors on Tuesday, February 5th, MarketBeat Ratings reports. The firm set a “buy” rating and a $438.00 price target on the stock. Goldman Sachs Group’s price target would indicate a potential downside of 3.02% from the company’s current price.
MELI has been the subject of several other research reports. BTIG Research began coverage on shares of Mercadolibre in a research note on Tuesday, November 13th. They issued a “buy” rating and a $395.00 target price for the company. BidaskClub raised shares of Mercadolibre from a “hold” rating to a “buy” rating in a report on Tuesday, November 6th. ValuEngine downgraded shares of Mercadolibre from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 29th. Finally, Zacks Investment Research raised shares of Mercadolibre from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $413.80.
Shares of NASDAQ:MELI traded down $7.15 during mid-day trading on Tuesday, hitting $451.64. The company had a trading volume of 1,402,074 shares, compared to its average volume of 449,728. The firm has a market capitalization of $16.91 billion, a P/E ratio of -550.78, a P/E/G ratio of 30.54 and a beta of 2.12. The company has a quick ratio of 1.61, a current ratio of 1.62 and a debt-to-equity ratio of 1.62. Mercadolibre has a one year low of $257.52 and a one year high of $474.84.
Mercadolibre (NASDAQ:MELI) last released its quarterly earnings data on Tuesday, February 26th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.10. The company had revenue of $428.00 million during the quarter, compared to analyst estimates of $400.80 million. Mercadolibre had a negative net margin of 7.04% and a negative return on equity of 9.47%. Mercadolibre’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.53) EPS. On average, analysts anticipate that Mercadolibre will post 0.43 EPS 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. FMR LLC lifted its holdings in shares of Mercadolibre by 11.3% in the fourth quarter. FMR LLC now owns 1,017,995 shares of the company’s stock worth $298,119,000 after buying an additional 103,215 shares in the last quarter. Executive Wealth Management LLC purchased a new stake in shares of Mercadolibre in the fourth quarter worth about $112,000. Public Employees Retirement System of Ohio lifted its holdings in shares of Mercadolibre by 2.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 56,452 shares of the company’s stock worth $16,532,000 after buying an additional 1,500 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Mercadolibre in the fourth quarter worth about $6,398,000. Finally, First Allied Advisory Services Inc. lifted its holdings in shares of Mercadolibre by 6.4% in the fourth quarter. First Allied Advisory Services Inc. now owns 958 shares of the company’s stock worth $281,000 after buying an additional 58 shares in the last quarter. 93.96% of the stock is currently 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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