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

MercadoLibre (NASDAQ:MELI) posted its quarterly earnings results 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 the consensus estimate of $3.84 billion. MercadoLibre had a return on equity of 42.04% and a net margin of 7.17%. The firm’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.97 EPS.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,630.56 on Friday. The business’s 50-day moving average price is $1,499.29 and its two-hundred day moving average price is $1,537.76. MercadoLibre has a twelve month low of $1,063.02 and a twelve month high of $1,825.00. The stock has a market cap of $82.67 billion, a P/E ratio of 72.96, a PEG ratio of 1.09 and a beta of 1.45. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.72.

Analysts Set New Price Targets

MELI has been the subject of several research reports. UBS Group cut their price target on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Barclays cut their price target on MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. DZ Bank upgraded MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price target for the company in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. increased their price target on MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Finally, Wedbush restated an “outperform” rating and issued a $1,800.00 target price on shares of MercadoLibre in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,805.00.

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.