Financial Technology

MercadoLibre (NASDAQ:MELI) Trading Up 6.3% Following Analyst Upgrade

MercadoLibre, Inc. (NASDAQ:MELIGet Rating) shares were up 6.3% during mid-day trading on Friday after BTIG Research raised their price target on the stock from $1,130.00 to $1,245.00. BTIG Research currently has a buy rating on the stock. MercadoLibre traded as high as $1,089.58 and last traded at $1,088.71. Approximately 32,902 shares traded hands during trading, a decline of 94% from the average daily volume of 532,312 shares. The stock had previously closed at $1,024.31.

A number of other analysts also recently issued reports on MELI. Credit Suisse Group dropped their price target on MercadoLibre from $1,470.00 to $1,400.00 and set an “outperform” rating for the company in a research report on Monday, October 31st. Citigroup lifted their price target on MercadoLibre from $1,050.00 to $1,100.00 in a research note on Friday, December 23rd. StockNews.com assumed coverage on MercadoLibre in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Jefferies Financial Group decreased their price target on MercadoLibre from $990.00 to $970.00 and set a “hold” rating on the stock in a research note on Thursday, October 6th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,291.50.

Institutional Investors Weigh In On MercadoLibre

Several hedge funds have recently made changes to their positions in MELI. FinTrust Capital Advisors LLC boosted its position in shares of MercadoLibre by 120.0% during the second quarter. FinTrust Capital Advisors LLC now owns 33 shares of the company’s stock valued at $25,000 after purchasing an additional 18 shares in the last quarter. Amalgamated Bank boosted its position in shares of MercadoLibre by 93.8% during the third quarter. Amalgamated Bank now owns 31 shares of the company’s stock valued at $26,000 after purchasing an additional 15 shares in the last quarter. Huntington National Bank boosted its position in shares of MercadoLibre by 45.8% during the third quarter. Huntington National Bank now owns 35 shares of the company’s stock valued at $29,000 after purchasing an additional 11 shares in the last quarter. Atlas Capital Advisors LLC boosted its position in shares of MercadoLibre by 414.3% during the third quarter. Atlas Capital Advisors LLC now owns 36 shares of the company’s stock valued at $30,000 after purchasing an additional 29 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in MercadoLibre in the second quarter worth $31,000. 80.49% of the stock is currently owned by institutional investors.

MercadoLibre Stock Up 5.7 %

The company has a quick ratio of 1.31, a current ratio of 1.34 and a debt-to-equity ratio of 1.68. The company has a fifty day simple moving average of $905.76 and a 200 day simple moving average of $869.06. The firm has a market capitalization of $54.47 billion, a P/E ratio of 202.45 and a beta of 1.53.

MercadoLibre (NASDAQ:MELIGet Rating) last released its earnings results on Thursday, November 3rd. The company reported $2.56 EPS for the quarter, topping the consensus estimate of $2.31 by $0.25. MercadoLibre had a return on equity of 17.11% and a net margin of 2.80%. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the previous year, the company posted $1.92 earnings per share. The company’s revenue for the quarter was up 41.6% compared to the same quarter last year. On average, equities analysts expect that MercadoLibre, Inc. will post 8.2 EPS for the current fiscal year.

About MercadoLibre

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MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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.

Further Reading

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