MercadoLibre (NASDAQ:MELI) Shares Down 5.2% - What's Next?

MercadoLibre, Inc. (NASDAQ:MELI - Get Free Report) was down 5.2% on Friday . The company traded as low as $2,414.00 and last traded at $2,447.92. Approximately 208,736 shares were traded during trading, a decline of 45% from the average daily volume of 380,371 shares. The stock had previously closed at $2,581.74.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Susquehanna increased their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a research report on Friday, February 21st. Benchmark downgraded MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. Cantor Fitzgerald decreased their price objective on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Morgan Stanley restated an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. Finally, Bank of America upped their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $2,613.75.

MercadoLibre Price Performance

The stock has a market cap of $125.85 billion, a P/E ratio of 65.85, a P/E/G ratio of 1.12 and a beta of 1.51. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The business has a 50 day simple moving average of $2,288.33 and a 200-day simple moving average of $2,061.53.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The business's revenue for the quarter was up 37.0% on a year-over-year basis. During the same period last year, the business posted $6.78 earnings per share. On average, sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Institutional Investors Weigh In On MercadoLibre

Hedge funds and other institutional investors have recently bought and sold shares of the business. Inspire Investing LLC purchased a new stake in shares of MercadoLibre in the first quarter worth $632,000. Invst LLC bought a new stake in MercadoLibre in the first quarter worth $400,000. Anderson Financial Strategies LLC purchased a new stake in MercadoLibre during the 1st quarter valued at about $644,000. Ellsworth Advisors LLC purchased a new position in shares of MercadoLibre in the first quarter worth $3,139,000. Finally, Wealth Management Associates Inc. raised its stake in shares of MercadoLibre by 28.5% during the first quarter. Wealth Management Associates Inc. now owns 176 shares of the company's stock valued at $343,000 after acquiring an additional 39 shares during the last quarter. Institutional investors own 87.62% of the company's stock.

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.