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

MercadoLibre (NASDAQ:MELI) posted its quarterly earnings data on Thursday. The company reported $6.78 earnings per share for the quarter, topping the consensus estimate of $6.64 by $0.14, Briefing.com reports. The company had revenue of $4.33 billion during the quarter, compared to analyst estimates of $3.84 billion. MercadoLibre had a net margin of 7.17% and a return on equity of 42.04%. The company’s revenue was up 36.0% on a year-over-year basis. During the same quarter last year, the business posted $3.97 earnings per share.

MercadoLibre Price Performance

Shares of MELI traded up $124.57 during mid-day trading on Friday, reaching $1,630.56. The company had a trading volume of 1,346,802 shares, compared to its average volume of 395,765. The company’s 50 day simple moving average is $1,499.27 and its 200 day simple moving average is $1,534.96. The company has a market capitalization of $82.67 billion, a price-to-earnings ratio of 72.96, a P/E/G ratio of 1.01 and a beta of 1.45. MercadoLibre has a 1-year low of $1,063.02 and a 1-year high of $1,825.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of research analyst reports. UBS Group decreased their price objective on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. raised their price target on MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. DZ Bank upgraded MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price on the stock in a report on Tuesday, April 23rd. Finally, Susquehanna boosted their price target on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,790.36.

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.