MercadoLibre (NASDAQ:MELI) Trading Up 0.4% – Should You Buy?

MercadoLibre, Inc. (NASDAQ:MELI) rose 0.4% during mid-day trading on Wednesday . The company traded as high as $2,052.78 and last traded at $2,042.22. Approximately 38,471 shares changed hands during trading, a decline of 89% from the average daily volume of 350,375 shares. The stock had previously closed at $2,033.62.

Analyst Upgrades and Downgrades

MELI has been the subject of a number of recent research reports. Bank of America lifted their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. The Goldman Sachs Group raised their price objective on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. BTIG Research raised their price objective on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,283.00.

MercadoLibre Price Performance

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 firm’s 50-day moving average is $2,030.77 and its 200-day moving average is $1,758.33. The company has a market capitalization of $105.27 billion, a P/E ratio of 92.04, a price-to-earnings-growth ratio of 1.25 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the prior year, the business earned $5.16 earnings per share. MercadoLibre’s revenue for the quarter was up 41.5% on a year-over-year basis. Analysts predict that MercadoLibre, Inc. will post 37.55 EPS for the current fiscal year.

Hedge Funds Weigh In On MercadoLibre

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James & Associates boosted its position in shares of MercadoLibre by 15.4% during the third quarter. Raymond James & Associates now owns 40,194 shares of the company’s stock worth $82,476,000 after acquiring an additional 5,354 shares during the last quarter. Slow Capital Inc. boosted its position in shares of MercadoLibre by 1.9% during the third quarter. Slow Capital Inc. now owns 11,767 shares of the company’s stock worth $24,146,000 after acquiring an additional 220 shares during the last quarter. IFG Advisors LLC bought a new position in shares of MercadoLibre during the third quarter worth $213,000. Net Worth Advisory Group bought a new position in MercadoLibre during the third quarter valued at $345,000. Finally, Stratos Wealth Advisors LLC lifted its position in MercadoLibre by 14.7% during the third quarter. Stratos Wealth Advisors LLC now owns 273 shares of the company’s stock valued at $562,000 after purchasing an additional 35 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

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.