MercadoLibre (NASDAQ:MELI) Trading 0.1% Higher – What’s Next?

MercadoLibre, Inc. (NASDAQ:MELI) rose 0.1% during trading on Monday . The company traded as high as $2,102.98 and last traded at $2,080.90. Approximately 54,232 shares were traded during trading, a decline of 84% from the average daily volume of 348,527 shares. The stock had previously closed at $2,079.79.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MELI shares. Susquehanna boosted their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. Bank of America lifted their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. BTIG Research upped their price target on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Morgan Stanley boosted their price objective on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Finally, Redburn Atlantic assumed coverage on MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price on the stock. 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. Based on data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average target price of $2,301.67.

MercadoLibre Price Performance

The stock has a market cap of $103.36 billion, a price-to-earnings ratio of 92.72, a price-to-earnings-growth ratio of 1.25 and a beta of 1.61. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The company’s 50-day moving average is $2,041.70 and its 200-day moving average is $1,774.03.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. New Wave Wealth Advisors LLC acquired a new stake in shares of MercadoLibre during the 3rd quarter worth about $211,000. Busey Bank grew its stake in MercadoLibre by 7.6% during the third quarter. Busey Bank now owns 142 shares of the company’s stock worth $291,000 after buying an additional 10 shares during the last quarter. Tectonic Advisors LLC increased its holdings in shares of MercadoLibre by 30.4% during the third quarter. Tectonic Advisors LLC now owns 163 shares of the company’s stock worth $334,000 after buying an additional 38 shares in the last quarter. Dakota Wealth Management raised its stake in shares of MercadoLibre by 156.8% in the third quarter. Dakota Wealth Management now owns 2,545 shares of the company’s stock valued at $5,222,000 after acquiring an additional 1,554 shares during the last quarter. Finally, IFM Investors Pty Ltd boosted its holdings in shares of MercadoLibre by 2.2% in the 3rd quarter. IFM Investors Pty Ltd now owns 9,590 shares of the company’s stock worth $19,678,000 after acquiring an additional 205 shares in the last quarter. 87.62% of the stock is 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.