MercadoLibre (NASDAQ:MELI) Releases Quarterly Earnings Results, Beats Estimates By $2.40 EPS

MercadoLibre (NASDAQ:MELI) posted its quarterly earnings data on Thursday. The company reported $12.61 earnings per share (EPS) for the quarter, beating 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 Price Performance

Shares of NASDAQ:MELI traded up $34.68 during midday trading on Thursday, reaching $2,110.47. 727,004 shares of the company’s stock traded hands, compared to its average volume of 344,303. MercadoLibre has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. The company has a market cap of $107.00 billion, a P/E ratio of 74.47, a PEG ratio of 1.11 and a beta of 1.62. 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 company has a fifty day simple moving average of $1,853.78 and a two-hundred day simple moving average of $1,951.83.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MELI shares. JPMorgan Chase & Co. dropped their target price on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Wedbush dropped their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. BTIG Research dropped their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Citigroup dropped their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Finally, Barclays dropped their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $2,244.69.

Insider Activity

In related news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction on Friday, November 29th. The stock was 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 of the company’s stock, valued at approximately $472,425.24. This represents a 17.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.06% of the company’s stock.

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.