Mercadolibre (MELI) Sets New 52-Week High Following Better-Than-Expected Earnings

Mercadolibre Inc (NASDAQ:MELI)’s share price hit a new 52-week high on Friday following a stronger than expected earnings report. The company traded as high as $589.56 and last traded at $584.47, with a volume of 1604194 shares traded. The stock had previously closed at $482.35.

The company reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.14. The company had revenue of $474.00 million for the quarter, compared to the consensus estimate of $423.19 million. Mercadolibre had a negative return on equity of 13.47% and a negative net margin of 2.54%. The company’s quarterly revenue was up 47.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.29) EPS.

A number of equities research analysts have recently issued reports on MELI shares. Bank of America reaffirmed a “buy” rating and set a $600.00 target price on shares of Mercadolibre in a research report on Wednesday, April 3rd. Goldman Sachs Group started coverage on Mercadolibre in a research report on Tuesday, February 5th. They set a “buy” rating and a $438.00 target price on the stock. Barclays reaffirmed a “buy” rating and set a $445.00 target price on shares of Mercadolibre in a research report on Thursday, February 28th. BidaskClub lowered Mercadolibre from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 19th. Finally, BTIG Research boosted their target price on Mercadolibre to $535.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Mercadolibre currently has a consensus rating of “Hold” and a consensus price target of $467.25.

In other Mercadolibre news, Director Emiliano Calemzuk purchased 120 shares of the stock in a transaction dated Saturday, March 9th. The shares were acquired at an average price of $414.14 per share, for a total transaction of $49,696.80. Following the completion of the acquisition, the director now owns 2,669 shares of the company’s stock, valued at approximately $1,105,339.66. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.32% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Baillie Gifford & Co. grew its holdings in shares of Mercadolibre by 2.3% during the fourth quarter. Baillie Gifford & Co. now owns 5,208,620 shares of the company’s stock valued at $1,525,344,000 after buying an additional 117,948 shares in the last quarter. FMR LLC grew its holdings in shares of Mercadolibre by 11.3% during the fourth quarter. FMR LLC now owns 1,017,995 shares of the company’s stock valued at $298,119,000 after buying an additional 103,215 shares in the last quarter. Norges Bank purchased a new position in shares of Mercadolibre during the fourth quarter valued at $110,161,000. WCM Investment Management LLC grew its holdings in shares of Mercadolibre by 8.2% during the fourth quarter. WCM Investment Management LLC now owns 347,514 shares of the company’s stock valued at $101,770,000 after buying an additional 26,481 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Mercadolibre by 15.5% during the fourth quarter. Jennison Associates LLC now owns 330,660 shares of the company’s stock valued at $96,834,000 after buying an additional 44,327 shares in the last quarter. Institutional investors and hedge funds own 91.14% of the company’s stock.

The company has a quick ratio of 1.29, a current ratio of 1.30 and a debt-to-equity ratio of 1.79. The firm has a market cap of $23.98 billion, a price-to-earnings ratio of -706.02 and a beta of 2.14.

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About Mercadolibre (NASDAQ:MELI)

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.

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