MercadoLibre (NASDAQ:MELI) Announces Earnings Results

MercadoLibre (NASDAQ:MELI) issued its quarterly earnings data on Thursday. The company reported $12.61 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40, Zacks reports. MercadoLibre had a return on equity of 40.71% and a net margin of 7.57%.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI traded up $34.68 during trading on Thursday, hitting $2,110.47. 727,004 shares of the stock traded hands, compared to its average volume of 344,303. The company has a fifty day moving average price of $1,853.78 and a two-hundred day moving average price of $1,951.83. MercadoLibre has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. The company has a market cap of $107.00 billion, a price-to-earnings ratio of 74.47, a P/E/G ratio of 1.11 and a beta of 1.62. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of recent analyst reports. Cantor Fitzgerald cut their price target on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. BTIG Research lowered their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Morgan Stanley dropped their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Finally, Barclays cut their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $2,244.69.

Insiders Place Their Bets

In other news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the sale, the director now directly owns 238 shares in the company, valued at $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is owned by company insiders.

MercadoLibre Company Profile

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.