MercadoLibre (NASDAQ:MELI) Shares Down 1.2% – Here’s Why

MercadoLibre, Inc. (NASDAQ:MELI) shares traded down 1.2% during mid-day trading on Tuesday . The company traded as low as $2,074.03 and last traded at $2,076.06. 31,232 shares traded hands during trading, a decline of 91% from the average session volume of 347,771 shares. The stock had previously closed at $2,100.58.

Analyst Upgrades and Downgrades

A number of research firms have commented on MELI. Bank of America lifted their price objective 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. JPMorgan Chase & Co. downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price objective for the company. in a report on Wednesday, October 2nd. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Citigroup boosted their price target on MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, BTIG Research lifted their price objective on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2,301.67.

MercadoLibre Stock Down 1.5 %

The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. The stock has a market cap of $104.94 billion, a price-to-earnings ratio of 92.71, a P/E/G ratio of 1.25 and a beta of 1.61. The business has a fifty day moving average of $2,038.67 and a 200 day moving average of $1,770.04.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping the consensus estimate of $8.53 by $1.95. The firm 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% on a year-over-year basis. During the same period in the previous year, the company earned $5.16 EPS. On average, equities analysts predict that MercadoLibre, Inc. will post 37.55 earnings per share for the current year.

Institutional Investors Weigh In On MercadoLibre

Institutional investors and hedge funds have recently made changes to their positions in the company. Capital World Investors boosted its position in shares of MercadoLibre by 12.7% during the first quarter. Capital World Investors now owns 845,749 shares of the company’s stock worth $1,278,738,000 after buying an additional 95,029 shares during the period. GQG Partners LLC raised its stake in MercadoLibre by 442.2% in the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after buying an additional 648,198 shares during the period. Price T Rowe Associates Inc. MD raised its stake in MercadoLibre by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after buying an additional 232,787 shares during the period. Janus Henderson Group PLC increased its stake in shares of MercadoLibre by 55.8% during the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after purchasing an additional 132,028 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of MercadoLibre by 3.6% during the second quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock worth $531,755,000 after purchasing an additional 11,265 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.