MercadoLibre (NASDAQ:MELI) Shares Up 9.7% – Here’s Why

MercadoLibre, Inc. (NASDAQ:MELI) traded up 9.7% during mid-day trading on Monday . The company traded as high as $2,168.14 and last traded at $2,165.4180. 377,128 shares traded hands during mid-day trading, a decline of 4% from the average session volume of 391,419 shares. The stock had previously closed at $1,973.70.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Morgan Stanley raised their price objective on MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. BTIG Research reissued a “buy” rating and set a $2,750.00 price target on shares of MercadoLibre in a research note on Thursday, December 4th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of MercadoLibre in a research note on Friday, October 31st. JPMorgan Chase & Co. increased their target price on MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. Finally, Wedbush cut their target price on shares of MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating for the company in a report on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and an average target price of $2,842.94.

MercadoLibre Trading Down 1.1%

The stock has a market cap of $109.64 billion, a PE ratio of 52.77, a PEG ratio of 1.09 and a beta of 1.42. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.17. The stock has a fifty day moving average price of $2,069.27 and a 200 day moving average price of $2,257.45.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The company had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.19 billion. During the same quarter in the previous year, the company posted $7.83 EPS. The business’s quarterly revenue was up 39.5% on a year-over-year basis. Equities analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Insider Buying and Selling

In other MercadoLibre news, Director Stelleo Tolda sold 246 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total transaction of $503,778.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total value of $1,713,778.30. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,136 shares of company stock valued at $2,308,788. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On MercadoLibre

Hedge funds have recently bought and sold shares of the business. Bison Wealth LLC bought a new position in shares of MercadoLibre in the fourth quarter worth about $206,000. Advisors Asset Management Inc. boosted its position in MercadoLibre by 7.8% in the 1st quarter. Advisors Asset Management Inc. now owns 290 shares of the company’s stock valued at $566,000 after buying an additional 21 shares during the period. Ashton Thomas Private Wealth LLC grew its stake in MercadoLibre by 11.8% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 285 shares of the company’s stock worth $556,000 after acquiring an additional 30 shares in the last quarter. Empowered Funds LLC increased its position in shares of MercadoLibre by 6.9% during the first quarter. Empowered Funds LLC now owns 760 shares of the company’s stock worth $1,483,000 after acquiring an additional 49 shares during the period. Finally, McIlrath & Eck LLC raised its stake in shares of MercadoLibre by 375.0% during the first quarter. McIlrath & Eck LLC now owns 19 shares of the company’s stock valued at $37,000 after acquiring an additional 15 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.