Things For Investors To Watch In MercadoLibre Inc. (NASDAQ: MELI)

MercadoLibre Inc. (NASDAQ:MELI) does about 541.61K shares in volume on a normal day but saw 418969 shares change hands in Friday trading. The company now has a market cap of 57.31B USD. Its current market price is $1100.87, marking a decrease of -1.68% compared to the previous close of $1119.64. The 52 week high reached by this stock is $1275.82 whilst the lowest price level in 52 weeks is $600.68. The script in recent trading has seen the stock touch a high of $1,112.005 and a low of $1,088.36.

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MercadoLibre Inc. (MELI) has a 20-day trading average at $1,155.32 and the current price is -13.71% off the 52-week high compared with 83.27% distance from its 52-week low. The 50-day simple moving average of the closing price is $1,008.53 and its 200-day simple moving average is $883.96. If we look at the stock’s price movements over the week, volatility stands at 3.62%, which increases to 3.84% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 49.52 to suggest the stock is neutral.

21 analysts observing the MercadoLibre Inc. (MELI) stock have set the 12-month price targets for the company’s shares at between $800.00 and $1590.00. The consensus objective for the share price is $1283.95, suggesting that the stock has a potential upside of 14.26% over the period. The median price target is 15.32% away from the current levels at $1300.00.

FactSet Research has provided data showing that 21 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 1 advise that it is a overweight. 17 analysts have rated it as a buy and 3 have advised that investors hold their positions. The consensus recommendation rating is Buy and Wall Street’s advice is for investors to Strong Buy the stock.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on July 06, 2022 when New Street resumed the stock to “Buy” and issued a price target of between $1700 and $1100. Jefferies downgraded the stock to “Hold” from Buy on January 07, 2022 at a price target of $2000-$1250. Scotiabank upgraded its price target at $2100.

The current price level is -4.70%, 9.67%, and 24.61% away from its SMA20, SMA50, and SMA200 respectively, with the MELI price moving above the 50-day SMA on February 17. MercadoLibre Inc. (MELI) stock is down -0.37% over the week and 2.62% over the past month. Its price is 30.09% year-to-date and -2.91% over the past year.

The stock last released its quarterly earnings report for quarter ended 9/29/2022, with the company’s earnings per share (EPS) of $2.56 above consensus estimates by $0.14. The company’s next earnings report is expected on 05/04/2023, with forecasts estimating quarterly EPS at $2.4 and $8.48 for whole year. MELI’s earnings per share are forecast to grow by 360.90% this year and 75.10% over next year. Expected sales for next quarter are $2.76 billion, which analysts say will come at $10.52 billion for the current fiscal year and next year at $13.02 billion. In addition, estimates put the company’s current quarterly revenue at an average of $2.96 billion.

Its 12-month price target is $1300.00. To reach the target analysts have set, the stock logically needs to grow 14.26 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $800.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $1590.00.

Outstanding shares total 50.33M with insiders holding 8.04% of the shares and institutional holders owning 87.39% of the company’s common stock. The company has a return on investment of 4.80% and return on equity of 17.10%. The price to earnings ratio (P/E ratio) amounts to 206.85 while the forward price to earnings ratio is 74.11. The beta has a value of 1.60. Price to book ratio is 33.97 and price to sales ratio is 5.93.

According to a U.S. Securities and Exchange Commission filing, Baillie Gifford UK & Bal Fds – has added its position in MercadoLibre Inc. (MELI) to 8,540,701 shares, mirroring a recent increase by 16,279.70%. Baillie Gifford UK & Bal Fds – added 8.49 million shares of MercadoLibre Inc. common stock bringing its total worth to about $10.09 billion at the end of recent close, SEC documents show. Baillie Gifford UK & Bal Fds – isn’t the only investment manager who changed stakes and is followed by Vanguard International Growth Fun, which sold off 22961.0 shares to end up with 1,954,837 shares worth $2.31 billion. American Funds EuroPacific Growth raise their holdings by 0.45% in the company over the course of the most recent quarter. It now holds a 2.84% position in MercadoLibre Inc. thanks to 1.43 million shares amounting to $1.69 billion.

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