MercadoLibre (NASDAQ:MELI) Posts Quarterly Earnings Results, Beats Estimates By $0.14 EPS

MercadoLibre (NASDAQ:MELI) released its quarterly earnings results on Thursday. The company reported $6.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same quarter in the previous year, the business earned $3.97 earnings per share. The firm’s revenue was up 36.0% compared to the same quarter last year.

MercadoLibre Stock Up 8.3 %

Shares of NASDAQ MELI traded up $124.57 during mid-day trading on Friday, reaching $1,630.56. 1,346,547 shares of the company traded hands, compared to its average volume of 402,715. MercadoLibre has a fifty-two week low of $1,063.02 and a fifty-two week high of $1,825.00. The stock has a market cap of $82.67 billion, a PE ratio of 83.45, a price-to-earnings-growth ratio of 0.97 and a beta of 1.45. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27. The company’s fifty day moving average is $1,499.27 and its two-hundred day moving average is $1,534.96.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MELI shares. 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. Barclays dropped their price target on MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Wedbush restated an “outperform” rating and set a $1,800.00 price objective on shares of MercadoLibre in a research report on Friday. Citigroup dropped their target price on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Finally, DZ Bank upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price target for the company in a report on Tuesday, April 23rd. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,790.36.

MercadoLibre Company Profile

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.