MercadoLibre (NASDAQ:MELI) Shares Down 0.2%

MercadoLibre, Inc. (NASDAQ:MELI) traded down 0.2% during mid-day trading on Tuesday . The company traded as low as $2,037.93 and last traded at $2,047.68. 51,661 shares were traded during mid-day trading, a decline of 85% from the average session volume of 353,422 shares. The stock had previously closed at $2,051.96.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Barclays upped their price objective on MercadoLibre from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. The Goldman Sachs Group upped their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Bank of America upped their price objective 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. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Finally, Susquehanna raised their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research note on Wednesday, August 28th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,217.50.

MercadoLibre Price Performance

The firm has a market cap of $103.76 billion, a price-to-earnings ratio of 91.62, a P/E/G ratio of 1.34 and a beta of 1.61. The business’s 50-day moving average price is $1,948.50 and its two-hundred day moving average price is $1,716.05. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.64 billion. During the same period last year, the business posted $5.16 earnings per share. The firm’s quarterly revenue was up 41.5% compared to the same quarter last year. On average, research analysts forecast that MercadoLibre, Inc. will post 35.79 EPS for the current fiscal year.

Institutional Trading of MercadoLibre

Several institutional investors have recently made changes to their positions in the stock. Orion Portfolio Solutions LLC grew its holdings in MercadoLibre by 8.7% during the fourth quarter. Orion Portfolio Solutions LLC now owns 489 shares of the company’s stock valued at $770,000 after purchasing an additional 39 shares during the last quarter. Focus Financial Network Inc. ADV bought a new stake in shares of MercadoLibre in the 4th quarter valued at $212,000. Dorsey & Whitney Trust CO LLC acquired a new stake in shares of MercadoLibre during the fourth quarter worth about $212,000. Scotia Capital Inc. bought a new stake in shares of MercadoLibre during the fourth quarter worth $226,000. Finally, FinTrust Capital Advisors LLC raised its stake in shares of MercadoLibre by 166.7% in the 4th quarter. FinTrust Capital Advisors LLC now owns 32 shares of the company’s stock valued at $50,000 after purchasing an additional 20 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

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.