MercadoLibre (NASDAQ:MELI) Shares Up 0.2% - Here's Why

MercadoLibre, Inc. (NASDAQ:MELI - Get Free Report) shares traded up 0.2% during mid-day trading on Thursday . The company traded as high as $2,079.94 and last traded at $2,051.10. 29,739 shares were traded during trading, a decline of 91% from the average session volume of 349,735 shares. The stock had previously closed at $2,046.47.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MELI. StockNews.com cut shares of MercadoLibre from a "buy" rating to a "hold" rating in a research report on Saturday, August 10th. Bank of America lifted their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a "buy" rating in a report on Thursday, September 12th. Citigroup increased their price target on MercadoLibre from $2,000.00 to $2,200.00 and gave the company a "buy" rating in a report on Thursday, August 15th. Raymond James assumed coverage on MercadoLibre in a research note on Friday, September 27th. They set an "outperform" rating and a $2,350.00 price objective on the stock. Finally, Susquehanna increased their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a "positive" rating in a research note on Wednesday, August 28th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $2,283.00.

MercadoLibre Stock Up 0.9 %

The stock has a market capitalization of $104.73 billion, a P/E ratio of 92.43, a P/E/G ratio of 1.25 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. The stock's 50 day simple moving average is $2,030.77 and its 200 day simple moving average is $1,758.33.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly 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. The business had revenue of $5.07 billion for the quarter, compared to analysts' expectations of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The company's quarterly revenue was up 41.5% compared to the same quarter last year. During the same quarter last year, the company posted $5.16 earnings per share. As a group, research analysts predict that MercadoLibre, Inc. will post 37.55 EPS for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

A number of institutional investors have recently made changes to their positions in MELI. Migdal Insurance & Financial Holdings Ltd. increased its stake in MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company's stock valued at $28,000 after purchasing an additional 16 shares during the last quarter. Optimum Investment Advisors boosted its holdings in shares of MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company's stock valued at $35,000 after buying an additional 15 shares during the period. First PREMIER Bank acquired a new stake in MercadoLibre during the first quarter worth about $27,000. Financial Connections Group Inc. acquired a new stake in MercadoLibre during the second quarter worth about $36,000. Finally, Scarborough Advisors LLC acquired a new position in MercadoLibre in the fourth quarter valued at approximately $36,000. 87.62% of the stock is currently owned by institutional investors.

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.