MercadoLibre (NASDAQ:MELI) Stock Price Down 0.2% – Here’s Why

Shares of MercadoLibre, Inc. (NASDAQ:MELI) fell 0.2% during trading on Tuesday . The company traded as low as $2,037.93 and last traded at $2,047.68. 51,661 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 353,422 shares. The stock had previously closed at $2,051.96.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MELI. Barclays upped 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. Susquehanna upped their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. Bank of America lifted their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. Finally, BTIG Research lifted their target price on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,246.07.

MercadoLibre Price Performance

The company has a market capitalization of $99.33 billion, a PE ratio of 87.68, a price-to-earnings-growth ratio of 1.34 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’s 50 day simple moving average is $1,962.54 and its 200-day simple moving average is $1,721.79.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the prior year, the firm earned $5.16 EPS. The firm’s revenue for the quarter was up 41.5% on a year-over-year basis. As a group, equities analysts forecast that MercadoLibre, Inc. will post 35.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James & Associates increased its stake in shares of MercadoLibre by 4.8% during the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock worth $57,256,000 after buying an additional 1,604 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of MercadoLibre by 20.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock worth $41,794,000 after purchasing an additional 4,658 shares during the last quarter. Gulf International Bank UK Ltd grew its stake in shares of MercadoLibre by 33.4% during the first quarter. Gulf International Bank UK Ltd now owns 4,960 shares of the company’s stock worth $7,499,000 after purchasing an additional 1,241 shares in the last quarter. Caprock Group LLC raised its stake in MercadoLibre by 143.7% in the second quarter. Caprock Group LLC now owns 580 shares of the company’s stock valued at $955,000 after buying an additional 342 shares in the last quarter. Finally, Sarasin & Partners LLP lifted its holdings in MercadoLibre by 168.5% during the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock worth $74,622,000 after buying an additional 28,494 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

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.