MercadoLibre (NASDAQ:MELI) Stock Price Up 1.6% – Here’s What Happened

MercadoLibre, Inc. (NASDAQ:MELI)’s share price rose 1.6% on Friday . The stock traded as high as $2,090.78 and last traded at $2,089.65. Approximately 49,515 shares changed hands during trading, a decline of 86% from the average daily volume of 345,155 shares. The stock had previously closed at $2,055.93.

Analyst Ratings Changes

Several equities research analysts have commented on MELI shares. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Barclays increased their price target on MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Susquehanna boosted their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $2,530.00 target price on shares of MercadoLibre in a research report on Monday, October 7th. Finally, Morgan Stanley lifted their target price on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $2,301.67.

MercadoLibre Stock Down 0.4 %

The stock has a market capitalization of $103.80 billion, a P/E ratio of 73.99, a price-to-earnings-growth ratio of 1.26 and a beta of 1.61. 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 has a fifty day moving average price of $2,047.08 and a 200 day moving average price of $1,781.70.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping 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 business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter last year, the company earned $5.16 EPS. The firm’s revenue was up 41.5% compared to the same quarter last year. On average, research analysts forecast that MercadoLibre, Inc. will post 37.55 earnings per share for the current year.

Institutional Trading of MercadoLibre

Hedge funds and other institutional investors have recently bought and sold shares of the company. 1620 Investment Advisors Inc. increased its holdings in shares of MercadoLibre by 3.7% in the third quarter. 1620 Investment Advisors Inc. now owns 198 shares of the company’s stock worth $407,000 after purchasing an additional 7 shares during the period. Diversify Wealth Management LLC increased its stake in MercadoLibre by 4.2% in the 3rd quarter. Diversify Wealth Management LLC now owns 398 shares of the company’s stock worth $811,000 after acquiring an additional 16 shares during the last quarter. First Trust Direct Indexing L.P. raised its holdings in shares of MercadoLibre by 16.1% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 613 shares of the company’s stock valued at $1,258,000 after acquiring an additional 85 shares in the last quarter. Mutual Advisors LLC boosted its position in shares of MercadoLibre by 29.4% during the 3rd quarter. Mutual Advisors LLC now owns 674 shares of the company’s stock valued at $1,385,000 after acquiring an additional 153 shares during the last quarter. Finally, Avitas Wealth Management LLC grew its holdings in shares of MercadoLibre by 1.0% during the third quarter. Avitas Wealth Management LLC now owns 1,150 shares of the company’s stock worth $2,360,000 after purchasing an additional 11 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

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.