MercadoLibre (NASDAQ:MELI) Posts Quarterly Earnings Results, Misses Expectations By $3.44 EPS

MercadoLibre (NASDAQ:MELI) issued its earnings results on Wednesday. The company reported $7.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.27 by ($3.44), reports. The company had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.25 billion. MercadoLibre had a return on equity of 42.61% and a net margin of 7.57%.

MercadoLibre Trading Up 5.5 %

MELI traded up $97.96 on Friday, hitting $1,872.01. The company had a trading volume of 1,357,175 shares, compared to its average volume of 267,932. The firm has a market cap of $94.91 billion, a P/E ratio of 66.06, a PEG ratio of 1.30 and a beta of 1.61. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. MercadoLibre has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. The company’s fifty day moving average price is $2,046.45 and its 200 day moving average price is $1,822.55.

Analyst Ratings Changes

MELI has been the subject of several analyst reports. Morgan Stanley increased their target price on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Bank of America increased 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. Barclays lifted their price target on MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. BTIG Research lowered their price objective on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research report on Thursday. 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 research report on Wednesday, August 28th. Three 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,309.67.

Institutional Investors Weigh In On MercadoLibre

A number of hedge funds have recently added to or reduced their stakes in MELI. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after buying an additional 16 shares in the last quarter. Optimum Investment Advisors boosted its stake in shares of MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after buying an additional 15 shares in the last quarter. Financial Connections Group Inc. acquired a new stake in shares of MercadoLibre during the 2nd quarter valued at approximately $36,000. Quarry LP purchased a new position in MercadoLibre during the 2nd quarter valued at about $43,000. Finally, Legacy Bridge LLC increased its position in MercadoLibre by 53.3% during the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock worth $47,000 after purchasing an additional 8 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Company Profile

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.