MercadoLibre (NASDAQ:MELI) Stock Price Down 2.6%

MercadoLibre, Inc. (NASDAQ:MELI) shares traded down 2.6% during mid-day trading on Tuesday . The company traded as low as $2,005.00 and last traded at $2,007.26. 84,601 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 361,195 shares. The stock had previously closed at $2,061.66.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MELI. New Street Research downgraded MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. BTIG Research upped their target price on MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and boosted their price objective for the company from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Finally, Susquehanna boosted their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,141.25.

MercadoLibre Price Performance

The firm has a market capitalization of $103.33 billion, a price-to-earnings ratio of 90.02, a PEG ratio of 1.36 and a beta of 1.60. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. The stock’s 50 day moving average price is $1,800.04 and its two-hundred day moving average price is $1,655.95.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share 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 analysts’ expectations of $4.64 billion. During the same period in the prior year, the business earned $5.16 earnings per share. MercadoLibre’s revenue for the quarter was up 41.5% compared to the same quarter last year. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 35.22 EPS for the current year.

Institutional Trading of MercadoLibre

A number of institutional investors and hedge funds have recently modified their holdings of the company. New York Life Investment Management LLC lifted its stake in MercadoLibre by 12.2% during the fourth quarter. New York Life Investment Management LLC now owns 798 shares of the company’s stock worth $1,254,000 after purchasing an additional 87 shares during the period. Amalgamated Bank lifted its holdings in shares of MercadoLibre by 22.2% during the fourth quarter. Amalgamated Bank now owns 55 shares of the company’s stock valued at $86,000 after acquiring an additional 10 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in shares of MercadoLibre by 1,742.9% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 516 shares of the company’s stock valued at $811,000 after purchasing an additional 488 shares in the last quarter. Spire Wealth Management grew its holdings in shares of MercadoLibre by 69.1% in the 4th quarter. Spire Wealth Management now owns 323 shares of the company’s stock worth $558,000 after purchasing an additional 132 shares during the last quarter. Finally, Private Advisor Group LLC increased its position in shares of MercadoLibre by 33.2% during the 4th quarter. Private Advisor Group LLC now owns 530 shares of the company’s stock worth $833,000 after purchasing an additional 132 shares in 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.