MercadoLibre (NASDAQ:MELI) Shares Up 1%

MercadoLibre, Inc. (NASDAQ:MELI)’s stock price shot up 1% during mid-day trading on Thursday . The company traded as high as $2,017.01 and last traded at $2,011.89. 36,700 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 359,960 shares. The stock had previously closed at $1,991.59.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MELI shares. The Goldman Sachs Group boosted their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. New Street Research cut MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. Citigroup raised their target price on MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, BTIG Research lifted their price objective on MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,141.25.

MercadoLibre Stock Down 2.6 %

The firm has a market cap of $100.69 billion, a PE ratio of 88.86, a P/E/G ratio of 1.36 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The firm’s 50-day moving average price is $1,814.44 and its two-hundred day moving average price is $1,660.11.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The business had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The business’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same period in the prior year, the company posted $5.16 EPS. As a group, equities research analysts expect that MercadoLibre, Inc. will post 35.22 EPS for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

Hedge funds and other institutional investors have recently modified their holdings of the stock. Capital International Investors increased its stake in MercadoLibre by 0.4% in the 4th quarter. Capital International Investors now owns 1,037,070 shares of the company’s stock worth $1,630,740,000 after purchasing an additional 4,317 shares in the last quarter. Capital World Investors lifted its holdings in shares of MercadoLibre by 12.7% during the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock valued at $1,278,738,000 after buying an additional 95,029 shares during the last quarter. GQG Partners LLC lifted its holdings in shares of MercadoLibre by 442.2% during the 1st 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 last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of MercadoLibre by 43.2% during the 1st 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 last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of MercadoLibre by 55.8% during the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after buying an additional 132,028 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

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.