Other equities analysts have also recently issued research reports about the company. Stifel Nicolaus raised their price target on Mercadolibre from $560.00 to $650.00 and gave the company a hold rating in a report on Thursday, August 8th. Piper Jaffray Companies raised their price target on Mercadolibre from $584.00 to $675.00 and gave the company an overweight rating in a report on Thursday, August 8th. BTIG Research upgraded Mercadolibre from a neutral rating to a buy rating and set a $720.00 price target for the company in a report on Monday, September 9th. Deutsche Bank raised their price target on Mercadolibre from $600.00 to $725.00 and gave the company a buy rating in a report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. upgraded Mercadolibre from a neutral rating to an overweight rating and raised their price target for the company from $563.00 to $750.00 in a report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of Buy and an average target price of $657.56.
Shares of Mercadolibre stock traded up $2.43 during trading on Wednesday, hitting $494.42. 390,600 shares of the company’s stock traded hands, compared to its average volume of 567,941. The stock has a market capitalization of $24.11 billion, a P/E ratio of -602.95 and a beta of 1.61. The business has a 50-day simple moving average of $537.52 and a 200-day simple moving average of $581.45. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.73 and a quick ratio of 2.53. Mercadolibre has a 1 year low of $257.52 and a 1 year high of $698.98.
Mercadolibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, October 31st. The company reported ($2.96) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($2.97). The firm had revenue of $603.03 million for the quarter, compared to analysts’ expectations of $588.23 million. Mercadolibre had a negative net margin of 5.87% and a negative return on equity of 1.29%. The business’s quarterly revenue was up 69.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.23) EPS. On average, equities analysts predict that Mercadolibre will post -1.15 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of MELI. Invesco Ltd. lifted its stake in shares of Mercadolibre by 112.9% during the 2nd quarter. Invesco Ltd. now owns 1,020,646 shares of the company’s stock worth $624,402,000 after acquiring an additional 541,277 shares during the last quarter. Viking Global Investors LP lifted its stake in shares of Mercadolibre by 39.7% during the 2nd quarter. Viking Global Investors LP now owns 854,831 shares of the company’s stock worth $522,960,000 after acquiring an additional 242,962 shares during the last quarter. Whale Rock Capital Management LLC lifted its stake in shares of Mercadolibre by 146.1% during the 2nd quarter. Whale Rock Capital Management LLC now owns 186,912 shares of the company’s stock worth $114,347,000 after acquiring an additional 110,960 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Mercadolibre by 74.4% during the 2nd quarter. Bank of America Corp DE now owns 250,328 shares of the company’s stock worth $153,144,000 after acquiring an additional 106,832 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new stake in shares of Mercadolibre during the 2nd quarter worth approximately $64,328,000. 81.95% of the stock is owned by hedge funds and other institutional investors.
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.
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