MercadoLibre (NASDAQ:MELI) Sets New 52-Week High at $1,500.00

MercadoLibre, Inc. (NASDAQ:MELI) reached a new 52-week high during trading on Tuesday . The company traded as high as $1,500.00 and last traded at $1,489.05, with a volume of 48008 shares. The stock had previously closed at $1,481.99.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MELI shares. UBS Group lifted their price target on shares of MercadoLibre from $1,600.00 to $1,700.00 and gave the company a “buy” rating in a report on Wednesday, August 30th. Barclays increased their price target on MercadoLibre from $1,575.00 to $1,625.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 8th. TheStreet upgraded MercadoLibre from a “c+” rating to a “b-” rating in a research report on Wednesday, September 6th. Jefferies Financial Group cut their target price on MercadoLibre from $1,400.00 to $1,300.00 and set a “hold” rating for the company in a research report on Tuesday, July 25th. Finally, The Goldman Sachs Group increased their price objective on shares of MercadoLibre from $1,910.00 to $2,180.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,643.21.

MercadoLibre Trading Up 0.5 %

The stock has a market cap of $75.28 billion, a PE ratio of 75.84, a PEG ratio of 1.44 and a beta of 1.54. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.24 and a current ratio of 1.27. The stock has a fifty day moving average price of $1,297.70 and a 200 day moving average price of $1,269.00.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, November 1st. The company reported $7.16 EPS for the quarter, topping the consensus estimate of $5.88 by $1.28. MercadoLibre had a net margin of 7.47% and a return on equity of 44.56%. The company had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same period in the previous year, the firm earned $2.56 earnings per share. MercadoLibre’s quarterly revenue was up 43.0% compared to the same quarter last year. Equities analysts expect that MercadoLibre, Inc. will post 21.83 EPS for the current year.

Institutional Investors Weigh In On MercadoLibre

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sageworth Trust Co purchased a new position in shares of MercadoLibre during the first quarter valued at $30,000. Salem Investment Counselors Inc. increased its position in MercadoLibre by 500.0% during the 3rd quarter. Salem Investment Counselors Inc. now owns 24 shares of the company’s stock valued at $30,000 after purchasing an additional 20 shares during the period. Proffitt & Goodson Inc. bought a new stake in shares of MercadoLibre in the 3rd quarter valued at about $32,000. Castleview Partners LLC lifted its position in shares of MercadoLibre by 58.8% in the 2nd quarter. Castleview Partners LLC now owns 27 shares of the company’s stock worth $32,000 after purchasing an additional 10 shares during the period. Finally, NBC Securities Inc. bought a new position in MercadoLibre in the third quarter worth approximately $35,000. Institutional investors own 80.01% of the company’s stock.

MercadoLibre Company Profile

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.