MercadoLibre (NASDAQ:MELI) Stock Price Down 1.8%

Shares of MercadoLibre, Inc. (NASDAQ:MELI) were down 1.8% during trading on Wednesday . The company traded as low as $1,567.22 and last traded at $1,567.22. Approximately 45,436 shares changed hands during trading, a decline of 88% from the average daily volume of 373,537 shares. The stock had previously closed at $1,596.48.

Analyst Ratings Changes

A number of analysts have recently commented on MELI shares. DZ Bank upgraded MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price objective for the company in a report on Tuesday, April 23rd. Citigroup decreased their price target on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and upped their price target for the stock from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. UBS Group decreased their price target on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Finally, New Street Research cut shares of MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and an average target price of $1,881.92.

MercadoLibre Trading Down 0.8 %

The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 0.66. The business’s 50-day simple moving average is $1,625.37 and its two-hundred day simple moving average is $1,607.13. The company has a market capitalization of $80.26 billion, a PE ratio of 70.50, a PEG ratio of 1.20 and a beta of 1.60.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, topping the consensus estimate of $6.64 by $0.14. MercadoLibre had a net margin of 7.17% and a return on equity of 39.46%. The business had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter last year, the company posted $3.97 earnings per share. The company’s quarterly revenue was up 36.0% compared to the same quarter last year. On average, analysts predict that MercadoLibre, Inc. will post 33.81 earnings per share for the current year.

Hedge Funds Weigh In On MercadoLibre

Large investors have recently modified their holdings of the stock. Townsquare Capital LLC lifted its position in shares of MercadoLibre by 0.9% during the third quarter. Townsquare Capital LLC now owns 1,549 shares of the company’s stock worth $1,964,000 after purchasing an additional 14 shares during the last quarter. Vestor Capital LLC raised its stake in MercadoLibre by 10.0% during the fourth quarter. Vestor Capital LLC now owns 88 shares of the company’s stock worth $138,000 after acquiring an additional 8 shares during the period. Vanguard Group Inc. raised its stake in MercadoLibre by 2.3% during the third quarter. Vanguard Group Inc. now owns 178,815 shares of the company’s stock worth $226,716,000 after acquiring an additional 4,065 shares during the period. Gulf International Bank UK Ltd raised its stake in 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 acquiring an additional 1,241 shares during the period. Finally, International Assets Investment Management LLC raised its stake in MercadoLibre by 112,333.8% during the fourth quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock worth $229,703,000 after acquiring an additional 146,034 shares during the period. 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.