MercadoLibre (NASDAQ:MELI) Trading Down 1.2% – What’s Next?

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MELI. Barclays increased their price target on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Susquehanna upped their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. Raymond James assumed coverage on shares of MercadoLibre in a research report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price for the company. Finally, Morgan Stanley increased 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. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,301.67.

MercadoLibre Stock Down 1.4 %

The company has a market cap of $103.36 billion, a P/E ratio of 91.22, a P/E/G ratio of 1.25 and a beta of 1.61. The company has a 50-day simple moving average of $2,044.50 and a 200 day simple moving average of $1,775.88. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. The company had revenue of $5.07 billion during 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%. The firm’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same quarter last year, the business posted $5.16 EPS. On average, equities analysts anticipate that MercadoLibre, Inc. will post 37.55 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. O Dell Group LLC grew its holdings in MercadoLibre by 2.1% during the 1st quarter. O Dell Group LLC now owns 294 shares of the company’s stock worth $445,000 after acquiring an additional 6 shares in the last quarter. Belpointe Asset Management LLC lifted its stake in shares of MercadoLibre by 1.0% during the 2nd quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock worth $1,016,000 after purchasing an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of MercadoLibre by 0.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock worth $2,419,000 after purchasing an additional 6 shares during the last quarter. Evolutionary Tree Capital Management LLC boosted its position in MercadoLibre by 0.3% during the second quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock valued at $3,403,000 after purchasing an additional 6 shares in the last quarter. Finally, Hilltop National Bank grew its stake in MercadoLibre by 14.3% in the second quarter. Hilltop National Bank now owns 56 shares of the company’s stock valued at $92,000 after purchasing an additional 7 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other 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.