MercadoLibre (NASDAQ:MELI) Posts Quarterly Earnings Results, Beats Expectations By $987.34 EPS

MercadoLibre (NASDAQ:MELI) announced its quarterly earnings results on Tuesday. The company reported $999.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.66 by $987.34, Zacks reports. MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%.

MercadoLibre Trading Up 3.1%

Shares of NASDAQ MELI traded up $58.10 during midday trading on Tuesday, reaching $1,922.56. The company had a trading volume of 803,771 shares, compared to its average volume of 549,856. The stock has a market cap of $97.47 billion, a PE ratio of 46.91, a price-to-earnings-growth ratio of 0.99 and a beta of 1.44. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.55. The firm’s fifty day moving average price is $2,060.10 and its 200-day moving average price is $2,174.77. MercadoLibre has a one year low of $1,723.90 and a one year high of $2,645.22.

Analysts Set New Price Targets

Several research firms have commented on MELI. Morgan Stanley boosted their target price on MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. UBS Group cut their target price on MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating for the company in a research report on Monday, November 24th. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Friday, February 6th. Barclays increased their price objective on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, JPMorgan Chase & Co. raised shares of MercadoLibre from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $2,650.00 to $2,800.00 in a research note on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,872.00.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Stelleo Tolda sold 246 shares of the company’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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,136 shares of company stock worth $2,308,788 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On MercadoLibre

Several large investors have recently made changes to their positions in the business. Sunbelt Securities Inc. increased its position in MercadoLibre by 17.5% in the fourth quarter. Sunbelt Securities Inc. now owns 309 shares of the company’s stock worth $622,000 after purchasing an additional 46 shares during the last quarter. Mcguire Capital Advisors Inc. purchased a new stake in MercadoLibre in the 4th quarter valued at about $66,000. Corient Private Wealth LLC grew its stake in MercadoLibre by 68.1% in the fourth quarter. Corient Private Wealth LLC now owns 3,778 shares of the company’s stock worth $7,609,000 after purchasing an additional 1,531 shares in the last quarter. Galaxy Group Investments LLC purchased a new position in shares of MercadoLibre during the fourth quarter valued at $1,571,000. Finally, Vident Advisory LLC lifted its position in shares of MercadoLibre by 13.9% in the 4th quarter. Vident Advisory LLC now owns 526 shares of the company’s stock worth $1,060,000 after purchasing an additional 64 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

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.