MercadoLibre (NASDAQ:MELI) Downgraded by Zacks Research to “Strong Sell”

MercadoLibre (NASDAQ:MELI) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Thursday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Citigroup cut their target price on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a research note on Thursday, October 9th. Barclays lifted their price target on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. BTIG Research restated a “buy” rating and set a $2,750.00 price target on shares of MercadoLibre in a research note on Thursday, December 4th. UBS Group dropped their price objective on MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating for the company in a research note on Monday, November 24th. Finally, Morgan Stanley increased their target price on MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,842.94.

MercadoLibre Trading Down 2.0%

Shares of MELI stock opened at $1,973.70 on Thursday. MercadoLibre has a twelve month low of $1,723.90 and a twelve month high of $2,645.22. The stock has a market cap of $100.07 billion, a price-to-earnings ratio of 48.16, a PEG ratio of 1.00 and a beta of 1.42. The company’s 50-day moving average price is $2,076.67 and its 200-day moving average price is $2,263.31. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The firm had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.19 billion. During the same quarter in the previous year, the firm earned $7.83 earnings per share. The business’s revenue for the quarter was up 39.5% compared to the same quarter last year. As a group, equities analysts predict that MercadoLibre will post 43.96 earnings per share for the current year.

Insider Buying and Selling

In other MercadoLibre news, Director Stelleo Tolda sold 246 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total transaction of $503,778.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,136 shares of company stock valued at $2,308,788 in the last three months. 0.25% of the stock is owned by corporate insiders.

Institutional Trading of MercadoLibre

Institutional investors have recently bought and sold shares of the business. Darwin Wealth Management LLC purchased a new stake in MercadoLibre during the second quarter worth approximately $29,000. Highline Wealth Partners LLC boosted its holdings in shares of MercadoLibre by 366.7% in the 2nd quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock valued at $37,000 after buying an additional 11 shares in the last quarter. Curio Wealth LLC boosted its holdings in shares of MercadoLibre by 1,400.0% in the 2nd quarter. Curio Wealth LLC now owns 15 shares of the company’s stock valued at $39,000 after buying an additional 14 shares in the last quarter. Stone House Investment Management LLC acquired a new stake in MercadoLibre during the 2nd quarter worth $39,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in MercadoLibre in the third quarter valued at $35,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.