MercadoLibre (NASDAQ:MELI) Announces Quarterly Earnings Results, Beats Expectations By $2.40 EPS

MercadoLibre (NASDAQ:MELI) announced its quarterly earnings results on Thursday. The company reported $12.61 earnings per share for the quarter, topping the consensus estimate of $10.21 by $2.40, Zacks reports. MercadoLibre had a net margin of 7.57% and a return on equity of 40.71%.

MercadoLibre Stock Up 1.7 %

Shares of MELI stock traded up $34.68 on Thursday, hitting $2,110.47. The stock had a trading volume of 727,004 shares, compared to its average volume of 344,303. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The business has a 50 day moving average price of $1,853.78 and a 200 day moving average price of $1,951.83. The company has a market cap of $107.00 billion, a PE ratio of 74.47, a P/E/G ratio of 1.11 and a beta of 1.62. MercadoLibre has a one year low of $1,324.99 and a one year high of $2,161.73.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MELI. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a research report on Tuesday, January 21st. Cantor Fitzgerald dropped their price objective on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. BTIG Research dropped their price objective on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Finally, Wedbush dropped their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $2,244.69.

Insiders Place Their Bets

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the transaction, the director now directly owns 238 shares in the company, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

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.