MercadoLibre (NASDAQ:MELI) Shares Down 1.2% – Here’s Why

MercadoLibre, Inc. (NASDAQ:MELI)’s share price fell 1.2% during trading on Tuesday . The company traded as low as $2,074.03 and last traded at $2,076.06. 31,232 shares traded hands during trading, a decline of 91% from the average session volume of 347,771 shares. The stock had previously closed at $2,100.58.

Analysts Set New Price Targets

A number of research firms have commented on MELI. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $2,530.00 target price on shares of MercadoLibre in a report on Monday, October 7th. BTIG Research lifted their price target on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. The Goldman Sachs Group lifted their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, Susquehanna upped their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2,301.67.

MercadoLibre Stock Down 1.5 %

The company has a 50 day moving average of $2,038.67 and a 200-day moving average of $1,770.04. 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 company has a market cap of $104.94 billion, a P/E ratio of 92.71, a price-to-earnings-growth ratio of 1.25 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data 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 company had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the previous year, the firm earned $5.16 earnings per share. MercadoLibre’s revenue was up 41.5% on a year-over-year basis. On average, equities analysts predict that MercadoLibre, Inc. will post 37.55 earnings per share for the current year.

Institutional Investors Weigh In On MercadoLibre

Large investors have recently added to or reduced their stakes in the company. GQG Partners LLC lifted its stake in MercadoLibre by 442.2% in the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after purchasing an additional 648,198 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of MercadoLibre by 43.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after acquiring an additional 232,787 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in MercadoLibre during the 2nd quarter valued at about $2,913,000. Janus Henderson Group PLC boosted its holdings in MercadoLibre by 55.8% during the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after acquiring an additional 132,028 shares during the period. Finally, Capital World Investors grew its position in MercadoLibre by 12.7% during the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock worth $1,278,738,000 after acquiring an additional 95,029 shares during the last quarter. Hedge funds and other 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.