Mercadolibre (NASDAQ:MELI) Downgraded by Citigroup to Neutral

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Citigroup lowered shares of Mercadolibre (NASDAQ:MELI) from a buy rating to a neutral rating in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has $660.00 price target on the stock, up from their previous price target of $645.00.

MELI has been the topic of a number of other research reports. Deutsche Bank reaffirmed a buy rating and issued a $670.00 target price (up previously from $653.00) on shares of Mercadolibre in a research report on Wednesday, December 4th. Jefferies Financial Group assumed coverage on shares of Mercadolibre in a research report on Thursday, February 6th. They issued a hold rating and a $700.00 target price on the stock. UBS Group decreased their target price on shares of Mercadolibre from $730.00 to $670.00 and set a buy rating on the stock in a research report on Monday, October 21st. TheStreet raised shares of Mercadolibre from a d+ rating to a c- rating in a research report on Monday, December 23rd. Finally, Piper Sandler boosted their price target on shares of Mercadolibre from $675.00 to $760.00 and gave the stock an overweight rating in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $694.10.

NASDAQ MELI opened at $735.01 on Tuesday. The firm’s 50-day moving average is $649.27 and its two-hundred day moving average is $590.88. Mercadolibre has a 12 month low of $358.07 and a 12 month high of $735.24. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.73 and a quick ratio of 2.72. The stock has a market capitalization of $35.72 billion, a P/E ratio of -202.48 and a beta of 1.57.

Mercadolibre (NASDAQ:MELI) last posted its earnings results on Monday, February 10th. The company reported ($1.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.55) by ($0.56). Mercadolibre had a negative net margin of 7.49% and a negative return on equity of 3.44%. The company had revenue of $674.20 million during the quarter, compared to analyst estimates of $666.97 million. During the same period in the previous year, the company earned ($0.05) EPS. The company’s quarterly revenue was up 57.5% compared to the same quarter last year. As a group, analysts anticipate that Mercadolibre will post -0.99 EPS for the current year.

A number of large investors have recently modified their holdings of MELI. Captrust Financial Advisors boosted its holdings in Mercadolibre by 1,723.8% in the fourth quarter. Captrust Financial Advisors now owns 1,149 shares of the company’s stock valued at $701,000 after purchasing an additional 1,086 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Mercadolibre in the fourth quarter valued at approximately $3,309,000. AQR Capital Management LLC boosted its holdings in Mercadolibre by 38.5% in the fourth quarter. AQR Capital Management LLC now owns 18,197 shares of the company’s stock valued at $10,408,000 after purchasing an additional 5,059 shares in the last quarter. Advisory Alpha LLC boosted its holdings in Mercadolibre by 297.1% in the fourth quarter. Advisory Alpha LLC now owns 270 shares of the company’s stock valued at $186,000 after purchasing an additional 202 shares in the last quarter. Finally, Blueshift Asset Management LLC acquired a new position in Mercadolibre in the fourth quarter valued at approximately $498,000. Institutional investors own 80.95% of the company’s stock.

Mercadolibre Company Profile

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.

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Analyst Recommendations for Mercadolibre (NASDAQ:MELI)

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