MercadoLibre (NASDAQ:MELI) Releases Quarterly Earnings Results, Beats Estimates By $0.14 EPS

MercadoLibre (NASDAQ:MELI) announced its earnings results on Thursday. The company reported $6.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.64 by $0.14, Briefing.com reports. The company had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $3.84 billion. MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. MercadoLibre’s quarterly revenue was up 36.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.97 earnings per share.

MercadoLibre Stock Performance

Shares of NASDAQ MELI traded up $124.57 during trading on Friday, reaching $1,630.56. 1,346,547 shares of the stock traded hands, compared to its average volume of 402,715. MercadoLibre has a 52-week low of $1,063.02 and a 52-week high of $1,825.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24. The company has a 50-day moving average of $1,499.27 and a 200-day moving average of $1,534.96. The stock has a market capitalization of $82.67 billion, a P/E ratio of 83.45, a price-to-earnings-growth ratio of 0.97 and a beta of 1.45.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MELI shares. Citigroup cut their target price on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. DZ Bank raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price on the stock in a research report on Tuesday, April 23rd. Wedbush reissued an “outperform” rating and issued a $1,800.00 price objective on shares of MercadoLibre in a research report on Friday. Susquehanna boosted their price objective on MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,790.36.

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.