MercadoLibre (NASDAQ:MELI) Reaches New 1-Year High - Still a Buy?

MercadoLibre, Inc. (NASDAQ:MELI - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $2,645.22 and last traded at $2,493.46, with a volume of 442663 shares trading hands. The stock had previously closed at $2,613.63.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. UBS Group set a $3,000.00 target price on MercadoLibre in a research note on Monday, June 2nd. JPMorgan Chase & Co. lifted their price objective on MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Jefferies Financial Group reaffirmed a "hold" rating and issued a $2,800.00 target price (up previously from $2,450.00) on shares of MercadoLibre in a research note on Thursday, June 5th. Morgan Stanley reissued an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. Finally, Cantor Fitzgerald reduced their price objective on shares of MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,645.94.

MercadoLibre Stock Performance

The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18. The company has a market cap of $126.82 billion, a price-to-earnings ratio of 61.52, a price-to-earnings-growth ratio of 1.52 and a beta of 1.51. The stock has a 50-day moving average price of $2,443.28 and a 200 day moving average price of $2,118.19.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping the consensus estimate of $7.82 by $1.92. The firm had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The business's quarterly revenue was up 37.0% on a year-over-year basis. During the same period last year, the company posted $6.78 EPS. As a group, analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

Several institutional investors have recently added to or reduced their stakes in the stock. Optimize Financial Inc lifted its holdings in shares of MercadoLibre by 1.7% in the first quarter. Optimize Financial Inc now owns 238 shares of the company's stock valued at $464,000 after purchasing an additional 4 shares in the last quarter. 1620 Investment Advisors Inc. raised its position in MercadoLibre by 2.5% in the 4th quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company's stock valued at $346,000 after buying an additional 5 shares during the last quarter. Texas Yale Capital Corp. lifted its stake in MercadoLibre by 0.3% in the 4th quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company's stock valued at $2,779,000 after acquiring an additional 5 shares in the last quarter. Meiji Yasuda Life Insurance Co boosted its position in MercadoLibre by 0.5% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company's stock worth $1,699,000 after acquiring an additional 5 shares during the last quarter. Finally, Formidable Asset Management LLC grew its stake in shares of MercadoLibre by 3.2% during the 4th quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock worth $272,000 after acquiring an additional 5 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

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.

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