MercadoLibre Inc. (NASDAQ:MELI) currently has a daily average trading volume of 650.95K but it saw 386649 shares traded on Wednesday. With a market cap of 46.65B USD, stock’s current market price of $962.43 came rising about 0.55 while comparing to the previous closing price of $957.16. In past 52 weeks, the stock remained buoying in the range of price level as high as $1365.97 and as low as $600.68. In the recent trading on the day, stock has struck highest price mark of $975.46 while lowest mark touched by it was $945.63.
Taking a look at 20-day trading activity of MercadoLibre Inc. (MELI) gives us an average price of $930.55, while its current price level is -29.54% below from 52-week high level whereas it is 60.22% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $888.10 while that of 200 days or SMA-200 reads an average of $910.38. A closer look into the stock’s movement over the week reveals that its volatility is standing at 3.69% during that period while stretching the period over a month that increases to 5.43%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 55.44 which implies that the stock is in neutral territory.
The company’s shares got several price updates from the analyst firms in past one month and most recent of them is from the New Street which resumed the stock as “Buy” in its note to investors issued on July 06, 2022, recommending a price target of between $1700 and $1100 for it. Jefferies downgraded its recommendation for the stock as a “Hold” from “Buy” on January 07, 2022 while assigning a price target range of $2000-$1250. Scotiabank issued its recommendations for the stock as it upgraded the price target for the stock is $2100.
Over the week, MELI’s stock price is moving -1.07% down while it is 11.53% when we observe its performance for the past one month. Year-to-date it is -28.62% down and over the past year, the stock is showing a downside performance of -25.10%.
The latest quarterly earnings report issued by the company was for quarter ended 6/29/2022, when its quarterly earnings per share (EPS) of $2.43 beat the consensus estimate of $1.79 for the same. For MELI, analysts are forecasting an EPS-growth rate of 306.00% for current year and estimate for EPS growth in next year is 57.70%. In next quarter, company is expected to be making quarterly sales of $2.94 billion as analysts are expecting the sales for current fiscal year at $10.42 billion and seeing the company making $13.14 billion in sales next year. Moreover, analysts are in estimates of $2.69 billion for current-quarter revenue.
Currently, MercadoLibre Inc.’s total number of outstanding shares is 50.33M with 8.25% of that held by the insiders while 83.13% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at 4.80% and return on equity (ROE) at 17.10%. It has a price to earnings ratio (P/E ratio) of 180.84 while having a 67.55 of forward P/E ratio. Stock’s beta reads 1.54. Stock has a price to book (P/B) ratio of 29.70 while price to sale or P/S ratio amounts to 4.83. Its return on asset (ROA) is 2.40% on average.
A filing at the U.S. Securities and Exchange Commission revealed that Vanguard International Growth Fun came shrinking its share ownership by -1.49% in the MercadoLibre Inc. (MELI) decreasing its stake to 3.93% with control over 29937.0 shares in the company. As per SEC documents, Vanguard International Growth Fun shunned 1,977,798 of company’s common stock of worth $1.78 billion as per recent closing price of the stock. Vanguard International Growth Fun is not the only institutional holder which restructured its stake in MercadoLibre Inc., as American Funds EuroPacific Growth dumped 1,423,116 shares of worth $1.28 billion to bring its holdings to a total of -0.13 million shares. In the most recent quarter, American Funds Growth Fund of Ame came rising its stake by 29.31% in the company and now holds 1.17 million or 2.33% of the company’s stake having worth of about 1.06 billion.