MercadoLibre (NASDAQ:MELI) Stock Price Up 0.6% – What’s Next?

Shares of MercadoLibre, Inc. (NASDAQ:MELI) rose 0.6% during trading on Tuesday . The stock traded as high as $2,075.68 and last traded at $2,068.08. Approximately 33,649 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 344,185 shares. The stock had previously closed at $2,056.09.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of research analyst reports. Redburn Atlantic started coverage on MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective for the company. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Bank of America increased their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Susquehanna boosted their price target on shares of 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, JPMorgan Chase & Co. lowered shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price objective for the company. in a research report on Wednesday, October 2nd. Three 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 company’s stock. According to MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $2,301.67.

MercadoLibre Stock Down 0.5 %

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 firm has a market cap of $103.73 billion, a PE ratio of 92.53, a P/E/G ratio of 1.26 and a beta of 1.61. The business’s 50-day simple moving average is $2,047.64 and its 200 day simple moving average is $1,789.72.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.53 by $1.95. The company had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. MercadoLibre’s revenue was up 41.5% compared to the same quarter last year. During the same period last year, the company posted $5.16 earnings per share. As a group, equities research analysts expect that MercadoLibre, Inc. will post 37.55 earnings per share for the current year.

Hedge Funds Weigh In On MercadoLibre

Several institutional investors and hedge funds have recently added to or reduced their stakes in MELI. Silvant Capital Management LLC boosted its holdings in shares of MercadoLibre by 725.0% in the 3rd quarter. Silvant Capital Management LLC now owns 9,801 shares of the company’s stock valued at $20,111,000 after buying an additional 8,613 shares in the last quarter. Farther Finance Advisors LLC grew its stake in MercadoLibre by 40.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 271 shares of the company’s stock worth $556,000 after buying an additional 78 shares during the last quarter. Capital Advisors Inc. OK increased its position in MercadoLibre by 5,335.7% during the 3rd quarter. Capital Advisors Inc. OK now owns 13,698 shares of the company’s stock valued at $28,108,000 after buying an additional 13,446 shares in the last quarter. Americana Partners LLC raised its stake in MercadoLibre by 11.7% in the third quarter. Americana Partners LLC now owns 972 shares of the company’s stock valued at $1,995,000 after buying an additional 102 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in MercadoLibre by 3.3% in the third quarter. New York State Common Retirement Fund now owns 28,374 shares of the company’s stock valued at $58,222,000 after buying an additional 910 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

About MercadoLibre

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.