MercadoLibre (NASDAQ:MELI) Announces Quarterly Earnings Results, Misses Expectations By $3.44 EPS

MercadoLibre (NASDAQ:MELI) posted its quarterly earnings data on Wednesday. The company reported $7.83 EPS for the quarter, missing the consensus estimate of $11.27 by ($3.44), reports. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.25 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%.

MercadoLibre Price Performance

MELI stock opened at $1,774.05 on Friday. MercadoLibre has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. 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 has a market cap of $89.94 billion, a price-to-earnings ratio of 64.11, a price-to-earnings-growth ratio of 1.26 and a beta of 1.61. The business has a fifty day moving average of $2,055.08 and a two-hundred day moving average of $1,819.36.

Hedge Funds Weigh In On MercadoLibre

Several large investors have recently modified their holdings of the business. Legacy Bridge LLC raised its holdings in MercadoLibre by 53.3% in the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after buying an additional 8 shares during the period. Knuff & Co LLC boosted its stake in MercadoLibre by 1.8% during the third quarter. Knuff & Co LLC now owns 4,764 shares of the company’s stock worth $9,776,000 after buying an additional 85 shares during the period. Meeder Advisory Services Inc. increased its position in shares of MercadoLibre by 5.8% during the third quarter. Meeder Advisory Services Inc. now owns 706 shares of the company’s stock valued at $1,449,000 after acquiring an additional 39 shares during the last quarter. Semus Wealth Partners LLC raised its stake in shares of MercadoLibre by 20.2% in the 3rd quarter. Semus Wealth Partners LLC now owns 862 shares of the company’s stock valued at $1,769,000 after acquiring an additional 145 shares during the period. Finally, CAP Partners LLC lifted its holdings in shares of MercadoLibre by 4.5% in the 3rd quarter. CAP Partners LLC now owns 324 shares of the company’s stock worth $665,000 after acquiring an additional 14 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MELI. Barclays lifted their price target on MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Bank of America upped their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. BTIG Research dropped their price objective on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Raymond James assumed coverage on shares of MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective for the company. Three 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,309.67.

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.