Several other brokerages also recently weighed in on MELI. Piper Jaffray Companies increased their price target on Mercadolibre from $584.00 to $675.00 and gave the stock an overweight rating in a research report on Thursday, August 8th. UBS Group decreased their price objective on Mercadolibre from $730.00 to $670.00 and set a buy rating for the company in a report on Monday, October 21st. Barclays lowered their target price on Mercadolibre from $700.00 to $660.00 and set an overweight rating on the stock in a research note on Friday, November 1st. BTIG Research raised Mercadolibre from a neutral rating to a buy rating and set a $720.00 target price on the stock in a report on Monday, September 9th. Finally, Cowen set a $651.00 price target on Mercadolibre and gave the company a hold rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $654.13.
NASDAQ MELI traded up $4.48 on Tuesday, hitting $583.00. 315,314 shares of the company’s stock traded hands, compared to its average volume of 562,977. The firm’s 50-day moving average price is $541.72 and its two-hundred day moving average price is $584.96. The firm has a market capitalization of $28.98 billion, a PE ratio of -710.98 and a beta of 1.63. The company has a current ratio of 2.73, a quick ratio of 2.72 and a debt-to-equity ratio of 0.38. Mercadolibre has a 1-year low of $257.52 and a 1-year high of $698.98.
Mercadolibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, October 31st. The company reported ($2.96) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($2.97). The business had revenue of $603.03 million during the quarter, compared to analyst estimates of $588.23 million. Mercadolibre had a negative return on equity of 1.29% and a negative net margin of 5.87%. The firm’s revenue was up 69.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.23) EPS. On average, research analysts anticipate that Mercadolibre will post -1.15 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of MELI. Invesco Ltd. raised its stake in shares of Mercadolibre by 112.9% during the 2nd quarter. Invesco Ltd. now owns 1,020,646 shares of the company’s stock worth $624,402,000 after buying an additional 541,277 shares during the period. Viking Global Investors LP grew its stake in Mercadolibre by 39.7% in the 2nd quarter. Viking Global Investors LP now owns 854,831 shares of the company’s stock valued at $522,960,000 after acquiring an additional 242,962 shares during the period. Whale Rock Capital Management LLC increased its holdings in Mercadolibre by 146.1% in the 2nd quarter. Whale Rock Capital Management LLC now owns 186,912 shares of the company’s stock worth $114,347,000 after acquiring an additional 110,960 shares in the last quarter. Bank of America Corp DE increased its holdings in Mercadolibre by 74.4% in the 2nd quarter. Bank of America Corp DE now owns 250,328 shares of the company’s stock worth $153,144,000 after acquiring an additional 106,832 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in Mercadolibre in the 2nd quarter worth $64,328,000. Institutional investors own 81.16% of the company’s stock.
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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