MercadoLibre (NASDAQ:MELI) Hits New 1-Year High at $2,088.15

MercadoLibre, Inc. (NASDAQ:MELI) shares reached a new 52-week high on Thursday . The stock traded as high as $2,088.15 and last traded at $2,081.00, with a volume of 50305 shares trading hands. The stock had previously closed at $2,045.88.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MELI. BTIG Research lifted 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. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and boosted their target price for the stock from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. Susquehanna raised their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Finally, Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,141.25.

MercadoLibre Trading Up 2.5 %

The company’s 50 day moving average price is $1,840.60 and its two-hundred day moving average price is $1,665.91. The firm has a market cap of $106.33 billion, a PE ratio of 91.54, a P/E/G ratio of 1.29 and a beta of 1.61. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The company had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same period in the prior year, the company posted $5.16 EPS. The firm’s revenue for the quarter was up 41.5% on a year-over-year basis. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 35.22 EPS for the current year.

Institutional Trading of MercadoLibre

Institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James & Associates increased its stake in MercadoLibre by 4.8% in the 2nd quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock worth $57,256,000 after buying an additional 1,604 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of MercadoLibre by 20.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock worth $41,794,000 after acquiring an additional 4,658 shares during the period. Gulf International Bank UK Ltd raised its stake in shares of MercadoLibre by 33.4% during the first quarter. Gulf International Bank UK Ltd now owns 4,960 shares of the company’s stock valued at $7,499,000 after acquiring an additional 1,241 shares in the last quarter. Sarasin & Partners LLP raised its stake in shares of MercadoLibre by 168.5% during the second quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after acquiring an additional 28,494 shares in the last quarter. Finally, Caprock Group LLC boosted its holdings in shares of MercadoLibre by 143.7% in the second quarter. Caprock Group LLC now owns 580 shares of the company’s stock valued at $955,000 after purchasing an additional 342 shares during the period. 87.62% of the stock is currently 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.