Mercadolibre (NASDAQ:MELI) Sets New 52-Week High at $1,017.21

Mercadolibre Inc (NASDAQ:MELI) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $1,017.21 and last traded at $1,013.00, with a volume of 7883 shares changing hands. The stock had previously closed at $988.42.

A number of analysts have commented on MELI shares. BidaskClub upgraded shares of Mercadolibre from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 17th. Barclays increased their price target on Mercadolibre from $620.00 to $810.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Zacks Investment Research raised Mercadolibre from a “hold” rating to a “buy” rating and set a $846.00 price objective on the stock in a research note on Wednesday, May 20th. Susquehanna Bancshares cut Mercadolibre from a “positive” rating to a “neutral” rating and set a $630.00 target price for the company. in a research note on Wednesday, April 22nd. Finally, Citigroup raised Mercadolibre from a “neutral” rating to a “buy” rating in a report on Wednesday, May 6th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $774.90.

The stock’s 50-day moving average price is $901.91 and its 200 day moving average price is $687.57. The company has a quick ratio of 2.22, a current ratio of 2.23 and a debt-to-equity ratio of 0.42. The company has a market cap of $49.51 billion, a P/E ratio of -239.82 and a beta of 1.70.

Mercadolibre (NASDAQ:MELI) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.04. Mercadolibre had a negative return on equity of 5.29% and a negative net margin of 8.28%. The business had revenue of $652.09 million for the quarter, compared to analyst estimates of $609.27 million. During the same period in the previous year, the company posted $0.13 earnings per share. The firm’s revenue for the quarter was up 37.6% on a year-over-year basis. Analysts expect that Mercadolibre Inc will post -1.04 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of MELI. Paragon Advisors LLC bought a new position in shares of Mercadolibre during the 2nd quarter worth about $1,008,000. Park National Corp OH bought a new stake in Mercadolibre in the 2nd quarter valued at $364,000. State of New Jersey Common Pension Fund D lifted its holdings in shares of Mercadolibre by 1.9% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 73,252 shares of the company’s stock worth $35,790,000 after acquiring an additional 1,381 shares during the period. Royal Bank of Canada increased its stake in Mercadolibre by 0.4% in the first quarter. Royal Bank of Canada now owns 41,153 shares of the company’s stock valued at $20,106,000 after acquiring an additional 147 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ raised its position in Mercadolibre by 147.1% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 25,680 shares of the company’s stock worth $12,547,000 after purchasing an additional 15,289 shares in the last quarter. 81.01% of the stock is owned by hedge funds and other institutional investors.

Mercadolibre Company Profile (NASDAQ:MELI)

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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