MercadoLibre (NASDAQ:MELI) Trading Down 0.1% – Here’s Why

MercadoLibre, Inc. (NASDAQ:MELI)’s stock price traded down 0.1% on Monday . The company traded as low as $2,044.62 and last traded at $2,045.28. 63,871 shares were traded during trading, a decline of 81% from the average session volume of 344,572 shares. The stock had previously closed at $2,047.35.

Analysts Set New Price Targets

MELI has been the topic of several recent research reports. Citigroup lifted their price target on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. downgraded MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price target for the company. in a research note on Wednesday, October 2nd. Morgan Stanley upped their price target 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. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. Finally, The Goldman Sachs Group increased their price objective on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average target price of $2,301.67.

MercadoLibre Stock Up 0.6 %

The firm has a 50 day simple moving average of $2,047.08 and a two-hundred day simple moving average of $1,785.86. The stock has a market capitalization of $104.46 billion, a P/E ratio of 91.51, a PEG ratio of 1.26 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 released its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating the consensus estimate of $8.53 by $1.95. The business had revenue of $5.07 billion for 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%. MercadoLibre’s revenue was up 41.5% compared to the same quarter last year. During the same period last year, the firm posted $5.16 earnings per share. On average, equities research analysts expect that MercadoLibre, Inc. will post 37.55 earnings per share for the current year.

Hedge Funds Weigh In On MercadoLibre

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. O Dell Group LLC lifted its stake in shares of MercadoLibre by 2.1% in the 1st quarter. O Dell Group LLC now owns 294 shares of the company’s stock valued at $445,000 after acquiring an additional 6 shares during the last quarter. Belpointe Asset Management LLC raised its position in MercadoLibre by 1.0% in the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock valued at $1,016,000 after purchasing an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of MercadoLibre by 0.4% during the second quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock valued at $2,419,000 after purchasing an additional 6 shares in the last quarter. Evolutionary Tree Capital Management LLC grew its holdings in shares of MercadoLibre by 0.3% during the second quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock worth $3,403,000 after purchasing an additional 6 shares during the last quarter. Finally, Strategic Blueprint LLC grew its holdings in shares of MercadoLibre by 0.9% during the third quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock worth $1,350,000 after purchasing an additional 6 shares during the last quarter. 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.