MercadoLibre (NASDAQ:MELI) Stock Price Down 0.2%

MercadoLibre, Inc. (NASDAQ:MELI) dropped 0.2% during mid-day trading on Tuesday . The stock traded as low as $2,037.93 and last traded at $2,047.68. Approximately 51,661 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 353,422 shares. The stock had previously closed at $2,051.96.

Analyst Ratings Changes

MELI has been the subject of several research reports. JPMorgan Chase & Co. increased their price target on shares of MercadoLibre from $2,150.00 to $2,400.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Citigroup increased their price objective on MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Cantor Fitzgerald restated an “overweight” rating and issued a $2,530.00 price objective on shares of MercadoLibre in a report on Monday, September 23rd. Susquehanna raised their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Finally, StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $2,217.50.

MercadoLibre Stock Down 0.3 %

The company has a market capitalization of $103.76 billion, a P/E ratio of 91.62, a P/E/G ratio of 1.34 and a beta of 1.61. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The business’s fifty day moving average price is $1,948.50 and its 200 day moving average price is $1,716.05.

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

Institutional Investors Weigh In On MercadoLibre

Several hedge funds and other institutional investors have recently made changes to their positions in MELI. Capital International Investors lifted its position in shares of MercadoLibre by 0.4% during the fourth quarter. Capital International Investors now owns 1,037,070 shares of the company’s stock worth $1,630,740,000 after acquiring an additional 4,317 shares in the last quarter. Capital World Investors increased its stake in MercadoLibre by 12.7% in the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock worth $1,278,738,000 after purchasing an additional 95,029 shares during the period. GQG Partners LLC grew its holdings in MercadoLibre by 442.2% in the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after acquiring an additional 648,198 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in MercadoLibre by 43.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after buying an additional 232,787 shares during the period. Finally, Janus Henderson Group PLC lifted its position in shares of MercadoLibre by 55.8% in the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after purchasing an additional 132,028 shares during the period. 87.62% of the stock is owned by institutional investors.

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.