MercadoLibre (NASDAQ:MELI) Trading 0.1% Higher – What’s Next?

Shares of MercadoLibre, Inc. (NASDAQ:MELI) traded up 0.1% during trading on Monday . The stock traded as high as $2,102.98 and last traded at $2,080.90. 54,232 shares were traded during trading, a decline of 84% from the average session volume of 348,527 shares. The stock had previously closed at $2,079.79.

Analyst Ratings Changes

A number of research analysts recently issued reports on MELI shares. Bank of America lifted their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Susquehanna raised their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. lowered shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 target price on the stock. in a research report on Wednesday, October 2nd. BTIG Research raised their price target on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, Morgan Stanley boosted their price objective on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus target price of $2,301.67.

MercadoLibre Trading Down 1.4 %

The business has a 50 day moving average of $2,041.70 and a 200 day moving average of $1,774.03. The firm has a market capitalization of $103.36 billion, a price-to-earnings ratio of 92.72, a PEG ratio of 1.25 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $1.95. The company had revenue of $5.07 billion during 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 revenue for the quarter was up 41.5% compared to the same quarter last year. During the same period in the previous year, the company earned $5.16 EPS. As a group, research analysts predict that MercadoLibre, Inc. will post 37.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of MercadoLibre by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 182,392 shares of the company’s stock valued at $286,636,000 after buying an additional 3,577 shares in the last quarter. West Paces Advisors Inc. bought a new stake in shares of MercadoLibre in the first quarter worth about $60,000. Future Financial Wealth Managment LLC acquired a new stake in shares of MercadoLibre during the first quarter worth about $73,000. Investment Partners Asset Management Inc. lifted its holdings in shares of MercadoLibre by 10.9% during the 1st quarter. Investment Partners Asset Management Inc. now owns 224 shares of the company’s stock valued at $339,000 after purchasing an additional 22 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of MercadoLibre by 19.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,482 shares of the company’s stock valued at $3,753,000 after purchasing an additional 396 shares during the period. 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.