MercadoLibre (NASDAQ:MELI) Shares Down 0.1% – Here’s What Happened

MercadoLibre, Inc. (NASDAQ:MELI)’s stock price dropped 0.1% during mid-day trading on Monday . The company traded as low as $2,081.21 and last traded at $2,089.20. Approximately 27,100 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 351,168 shares. The stock had previously closed at $2,091.16.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MELI shares. Cantor Fitzgerald restated an “overweight” rating and issued a $2,530.00 price target on shares of MercadoLibre in a research note on Monday, October 7th. JPMorgan Chase & Co. downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 target price on the stock. in a report on Wednesday, October 2nd. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Bank of America upped their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Finally, Redburn Atlantic initiated coverage on MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and a consensus target price of $2,283.00.

MercadoLibre Price Performance

The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The firm has a market cap of $103.75 billion, a P/E ratio of 91.37, a price-to-earnings-growth ratio of 1.25 and a beta of 1.61. The business has a 50-day moving average of $2,023.10 and a two-hundred day moving average of $1,754.14.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the prior year, the firm posted $5.16 earnings per share. The firm’s revenue was up 41.5% compared to the same quarter last year. On average, sell-side analysts anticipate that MercadoLibre, Inc. will post 37.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MercadoLibre

A number of hedge funds have recently modified their holdings of MELI. O Dell Group LLC lifted 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 buying an additional 6 shares during the period. Belpointe Asset Management LLC lifted its stake in shares of MercadoLibre by 1.0% in the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock worth $1,016,000 after acquiring an additional 6 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in MercadoLibre by 0.4% in the second quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock valued at $2,419,000 after acquiring an additional 6 shares during the last quarter. Evolutionary Tree Capital Management LLC increased its position in MercadoLibre by 0.3% during the 2nd 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 during the period. Finally, Hilltop National Bank raised its holdings in MercadoLibre by 14.3% during the 2nd quarter. Hilltop National Bank now owns 56 shares of the company’s stock worth $92,000 after purchasing an additional 7 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

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.