MercadoLibre (NASDAQ:MELI) Posts Earnings Results

MercadoLibre (NASDAQ:MELI) issued its earnings results on Thursday. The company reported $6.78 EPS for the quarter, beating the consensus estimate of $6.64 by $0.14, Briefing.com reports. MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The company had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter in the previous year, the company earned $3.97 EPS. The firm’s revenue for the quarter was up 36.0% compared to the same quarter last year.

MercadoLibre Stock Up 8.3 %

Shares of MELI traded up $124.57 on Friday, hitting $1,630.56. The company’s stock had a trading volume of 1,346,547 shares, compared to its average volume of 402,715. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.72. The firm’s fifty day moving average price is $1,499.27 and its 200-day moving average price is $1,534.96. MercadoLibre has a fifty-two week low of $1,063.02 and a fifty-two week high of $1,825.00. The firm has a market capitalization of $82.67 billion, a price-to-earnings ratio of 83.45, a P/E/G ratio of 0.97 and a beta of 1.45.

Wall Street Analysts Forecast Growth

MELI has been the topic of several recent analyst reports. Susquehanna boosted their target price on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. Wedbush restated an “outperform” rating and issued a $1,800.00 target price on shares of MercadoLibre in a research note on Friday. JPMorgan Chase & Co. upped their price target on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. DZ Bank upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price target on the stock in a research report on Tuesday, April 23rd. Finally, StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,790.36.

About MercadoLibre

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.