MercadoLibre (NASDAQ:MELI) Stock Price Down 1.4%

MercadoLibre, Inc. (NASDAQ:MELI) traded down 1.4% during trading on Monday . The stock traded as low as $2,030.25 and last traded at $2,035.41. Approximately 88,610 shares changed hands during trading, a decline of 75% from the average session volume of 353,378 shares. The stock had previously closed at $2,064.71.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MELI shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $2,530.00 target price on shares of MercadoLibre in a research note on Monday, September 23rd. Barclays boosted their target price on MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Morgan Stanley boosted their target price on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Finally, Susquehanna raised their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2,217.50.

MercadoLibre Price Performance

The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The stock’s 50-day simple moving average is $1,941.21 and its two-hundred day simple moving average is $1,712.60. The company has a market capitalization of $104.01 billion, a price-to-earnings ratio of 91.07, a PEG ratio of 1.34 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping the consensus estimate of $8.53 by $1.95. The business had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.16 EPS. Equities research analysts predict that MercadoLibre, Inc. will post 35.79 earnings per share for the current year.

Institutional Investors Weigh In On MercadoLibre

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Paragon Capital Management Inc. grew its stake in MercadoLibre by 6.8% during the 2nd quarter. Paragon Capital Management Inc. now owns 1,382 shares of the company’s stock worth $2,271,000 after purchasing an additional 88 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in MercadoLibre by 71.0% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 34,192 shares of the company’s stock valued at $56,191,000 after acquiring an additional 14,192 shares in the last quarter. University of Texas Texas AM Investment Management Co. lifted its stake in MercadoLibre by 211.8% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 689 shares of the company’s stock worth $1,132,000 after acquiring an additional 468 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in MercadoLibre during the 2nd quarter worth approximately $3,855,000. Finally, Souders Financial Advisors purchased a new stake in shares of MercadoLibre during the 2nd quarter worth $204,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Company Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, 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, as well as allows users to transfer money through their websites or on the apps.