MercadoLibre (NASDAQ:MELI) Stock Price Down 1.8%

Shares of MercadoLibre, Inc. (NASDAQ:MELI) traded down 1.8% on Wednesday . The company traded as low as $1,567.22 and last traded at $1,567.22. 45,436 shares were traded during mid-day trading, a decline of 88% from the average session volume of 373,537 shares. The stock had previously closed at $1,596.48.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Citigroup cut their price target on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Barclays raised their price objective on MercadoLibre from $1,800.00 to $2,000.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and raised their price objective for the stock from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. DZ Bank raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price objective on the stock in a research note on Tuesday, April 23rd. Finally, New Street Research downgraded MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,881.92.

MercadoLibre Stock Performance

The stock has a market cap of $80.26 billion, a P/E ratio of 70.50, a PEG ratio of 1.20 and a beta of 1.60. The stock has a fifty day simple moving average of $1,625.37 and a 200-day simple moving average of $1,607.13. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.25 and a current ratio of 1.27.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $6.78 earnings per share for the quarter, beating the consensus estimate of $6.64 by $0.14. The company had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $3.84 billion. MercadoLibre had a return on equity of 39.46% and a net margin of 7.17%. MercadoLibre’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.97 EPS. On average, equities analysts expect that MercadoLibre, Inc. will post 33.81 earnings per share for the current year.

Hedge Funds Weigh In On MercadoLibre

Several hedge funds have recently modified their holdings of the stock. Centre Asset Management LLC lifted its stake in MercadoLibre by 2.3% in the 2nd quarter. Centre Asset Management LLC now owns 5,238 shares of the company’s stock valued at $8,608,000 after purchasing an additional 117 shares during the last quarter. Cypress Asset Management Inc. TX lifted its stake in MercadoLibre by 4.0% in the 1st quarter. Cypress Asset Management Inc. TX now owns 3,952 shares of the company’s stock valued at $5,989,000 after purchasing an additional 153 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in MercadoLibre by 31.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 54 shares of the company’s stock valued at $79,000 after purchasing an additional 13 shares during the last quarter. Spear Holdings RSC Ltd acquired a new stake in MercadoLibre in the 1st quarter valued at about $29,030,000. Finally, Cetera Advisors LLC lifted its stake in MercadoLibre by 107.3% in the 1st quarter. Cetera Advisors LLC now owns 1,988 shares of the company’s stock valued at $3,006,000 after purchasing an additional 1,029 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.