MercadoLibre (NASDAQ:MELI) Trading Down 0.9% – Time to Sell?

MercadoLibre, Inc. (NASDAQ:MELI)’s stock price dropped 0.9% on Tuesday . The company traded as low as $2,047.21 and last traded at $2,061.50. Approximately 70,551 shares changed hands during trading, a decline of 80% from the average daily volume of 350,578 shares. The stock had previously closed at $2,079.96.

Analyst Ratings Changes

A number of research analysts have commented on the stock. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Morgan Stanley upped their price objective on MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Bank of America increased their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Redburn Atlantic started coverage on MercadoLibre in a report on Friday. They issued a “buy” rating and a $2,800.00 target price on the stock. Finally, BTIG Research lifted their price objective on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2,283.00.

MercadoLibre Stock Down 2.4 %

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 capitalization of $102.91 billion, a price-to-earnings ratio of 92.24, a price-to-earnings-growth ratio of 1.25 and a beta of 1.61. The firm’s 50-day simple moving average is $2,018.64 and its two-hundred day simple moving average is $1,750.46.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating the consensus estimate of $8.53 by $1.95. The firm had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. MercadoLibre’s quarterly revenue was up 41.5% on a year-over-year basis. During the same period last year, the business posted $5.16 EPS. Sell-side analysts predict that MercadoLibre, Inc. will post 37.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. O Dell Group LLC increased its holdings in MercadoLibre by 2.1% during the 1st quarter. O Dell Group LLC now owns 294 shares of the company’s stock valued at $445,000 after acquiring an additional 6 shares in the last quarter. Belpointe Asset Management LLC grew its position in shares of MercadoLibre by 1.0% in the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock valued at $1,016,000 after purchasing an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of MercadoLibre by 0.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock worth $2,419,000 after purchasing an additional 6 shares in the last quarter. Evolutionary Tree Capital Management LLC lifted its stake in MercadoLibre by 0.3% in the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock valued at $3,403,000 after buying an additional 6 shares in the last quarter. Finally, Hilltop National Bank lifted its stake in MercadoLibre by 14.3% in the 2nd quarter. Hilltop National Bank now owns 56 shares of the company’s stock valued at $92,000 after buying an additional 7 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

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.