MercadoLibre (NASDAQ:MELI) Reaches New 52-Week High at $2,157.64

MercadoLibre, Inc. (NASDAQ:MELI)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $2,157.64 and last traded at $2,140.44, with a volume of 44405 shares. The stock had previously closed at $2,102.64.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MELI shares. Barclays lifted their price target on MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Bank of America lifted their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. New Street Research downgraded shares of MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. BTIG Research increased their price target on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Cantor Fitzgerald began coverage on shares of MercadoLibre in a research report on Thursday, September 5th. They set an “overweight” rating and a $2,530.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $2,182.92.

MercadoLibre Trading Up 1.2 %

The business’s 50-day moving average is $1,884.30 and its two-hundred day moving average is $1,683.67. 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 stock has a market capitalization of $107.92 billion, a PE ratio of 94.08, a PEG ratio of 1.33 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The business 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 earned $5.16 EPS. The company’s revenue for the quarter was up 41.5% compared to the same quarter last year. On average, analysts predict that MercadoLibre, Inc. will post 35.22 earnings per share for the current year.

Institutional Investors Weigh In On MercadoLibre

Several large investors have recently modified their holdings of MELI. Raymond James & Associates raised its position in MercadoLibre by 4.8% during the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock valued at $57,256,000 after acquiring an additional 1,604 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of MercadoLibre by 20.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock valued at $41,794,000 after buying an additional 4,658 shares during the period. Gulf International Bank UK Ltd grew its holdings in MercadoLibre by 33.4% during the 1st quarter. Gulf International Bank UK Ltd now owns 4,960 shares of the company’s stock worth $7,499,000 after acquiring an additional 1,241 shares during the period. Sarasin & Partners LLP increased its holdings in shares of MercadoLibre by 168.5% in the second quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock worth $74,622,000 after acquiring an additional 28,494 shares in the last quarter. Finally, Caprock Group LLC raised its holdings in shares of MercadoLibre by 143.7% during the second quarter. Caprock Group LLC now owns 580 shares of the company’s stock worth $955,000 after acquiring an additional 342 shares during the period. 87.62% of the stock is 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.