MercadoLibre (NASDAQ:MELI) Releases Quarterly Earnings Results

MercadoLibre (NASDAQ:MELI) issued its quarterly earnings data on Thursday. The company reported $12.61 earnings per share for the quarter, beating the consensus estimate of $10.21 by $2.40, Zacks reports. The company had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a net margin of 7.57% and a return on equity of 40.71%.

MercadoLibre Price Performance

NASDAQ:MELI traded up $200.22 on Friday, hitting $2,310.69. The company had a trading volume of 676,978 shares, compared to its average volume of 353,379. The firm has a 50 day moving average of $1,858.57 and a two-hundred day moving average of $1,952.94. The stock has a market capitalization of $117.15 billion, a price-to-earnings ratio of 81.53, a PEG ratio of 1.10 and a beta of 1.62. MercadoLibre has a 52 week low of $1,324.99 and a 52 week high of $2,374.54. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MELI. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Wedbush decreased their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Susquehanna lifted their target price on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a report on Friday. Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price for the company in a research report on Tuesday, January 21st. Finally, Morgan Stanley lowered their price target on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $2,320.31.

Insider Buying and Selling

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the sale, the director now directly owns 238 shares of the company’s stock, valued at $472,425.24. The trade was a 17.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.06% of the stock is currently owned by corporate insiders.

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.