MercadoLibre (NASDAQ:MELI) Releases Quarterly Earnings Results, Beats Estimates By $987.34 EPS

MercadoLibre (NASDAQ:MELI) released its quarterly earnings results on Tuesday. The company reported $999.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 Stock Performance

Shares of NASDAQ:MELI traded up $58.10 during midday trading on Tuesday, reaching $1,922.56. 819,729 shares of the company’s stock traded hands, compared to its average volume of 549,856. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.17. MercadoLibre has a one year low of $1,723.90 and a one year high of $2,645.22. The company has a market cap of $97.47 billion, a price-to-earnings ratio of 46.91, a P/E/G ratio of 0.99 and a beta of 1.44. The stock has a 50 day moving average of $2,060.10 and a 200 day moving average of $2,174.77.

Insiders Place Their Bets

In related news, Director Emiliano Calemzuk sold 45 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the transaction, the director owned 257 shares in the company, valued at $521,034.09. This represents a 14.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was 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. In the last 90 days, insiders sold 1,136 shares of company stock valued at $2,308,788. 0.25% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MELI. Bison Wealth LLC bought a new position in shares of MercadoLibre in the 4th quarter valued at about $206,000. Sivia Capital Partners LLC bought a new position in shares of MercadoLibre during the 2nd quarter valued at approximately $261,000. Cohen & Steers Inc. purchased a new stake in MercadoLibre during the 4th quarter valued at $201,000. Intesa Sanpaolo Wealth Management purchased a new stake in MercadoLibre during the 4th quarter valued at $157,000. Finally, Summit Securities Group LLC purchased a new stake in shares of MercadoLibre in the fourth quarter valued at $155,000. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MELI has been the subject of several research reports. Weiss Ratings lowered MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 8th. Morgan Stanley raised their price objective on MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Wedbush dropped their target price on shares of MercadoLibre from $2,700.00 to $2,600.00 and set an “outperform” rating on the stock in a report on Tuesday, February 17th. Barclays lifted their target price on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, Dbs Bank upgraded MercadoLibre from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2,872.00.

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.