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After MercadoLibre Inc. (NASDAQ: MELI) Surges -60.71% From Highs, What Will It Look Like?

During the recent session, MercadoLibre Inc. (NASDAQ:MELI)’s traded shares were 0.94 million, with the beta value of the company hitting 1.67. At the last check today, the stock’s price was $1026.68, reflecting an intraday gain of 15.24% or $135.81. The 52-week high for the MELI share is $1970.13, that puts it down -91.89 from that peak though still a striking 41.49% gain since the share price plummeted to a 52-week low of $600.68. The company’s market capitalization is $43.66B, and the average intraday trading volume over the past 10 days was 0.56 million shares, and the average trade volume was 703.90K shares over the past three months.

MercadoLibre Inc. (MELI) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.80. MELI has a Sell rating from 0 analyst(s) out of 23 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 20 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $1.79.

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MercadoLibre Inc. (NASDAQ:MELI) trade information

MercadoLibre Inc. (MELI) registered a 15.24% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 15.24% in intraday trading to $1026.68 this Wednesday, 08/03/22, hitting a weekly high. The stock’s 5-day price performance is 12.53%, and it has moved by 24.85% in 30 days. Based on these gigs, the overall price performance for the year is -43.46%. The short interest in MercadoLibre Inc. (NASDAQ:MELI) is 0.91 million shares and it means that shorts have 1.41 day(s) to cover.

The consensus price target of analysts on Wall Street is $1246.50, which implies an increase of 17.63% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $800.00 and $1650.00 respectively. As a result, MELI is trading at a discount of -60.71% off the target high and 22.08% off the low.

MercadoLibre Inc. (MELI) estimates and forecasts

Statistics show that MercadoLibre Inc. has outperformed its competitors in share price, compared to the industry in which it operates. MercadoLibre Inc. (MELI) shares have gone down -21.72% during the last six months, with a year-to-date growth rate more than the industry average at 261.08% against -8.40. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 30.70% this quarter and then drop -8.30% in the quarter after that. In the rating firms’ projections, revenue will increase 45.00% compared to the previous financial year.

Revenue for the current quarter is expected to be $2.5 billion as predicted by 12 analyst(s). Meanwhile, a consensus of 11 analyst(s) estimates revenue growth to $2.63 billion by the end of Sep 2022.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -11.50%. While earnings are projected to return 317.90% in 2022.

MELI Dividends

MercadoLibre Inc. is due to release its next quarterly earnings between November 02 and November 07. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

MercadoLibre Inc. (NASDAQ:MELI)’s Major holders

MercadoLibre Inc. insiders own 8.13% of total outstanding shares while institutional holders control 83.70%, with the float percentage being 91.11%. Baillie Gifford and Company is the largest shareholder of the company, while 1,362 institutions own stock in it. As of Mar 30, 2022, the company held over 5.04 million shares (or 10.00% of all shares), a total value of $5.99 billion in shares.

The next largest institutional holding, with 4.19 million shares, is of Capital Research Global Investors’s that is approximately 8.31% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $4.98 billion.

Also, the Mutual Funds coming in first place with the largest holdings of MercadoLibre Inc. (MELI) shares are Vanguard International Growth Fund and Europacific Growth Fund. Data provided on Feb 27, 2022 indicates that Vanguard International Growth Fund owns about 2.08 million shares. This amounts to just over 4.13 percent of the company’s overall shares, with a $2.34 billion market value. The same data shows that the other fund manager holds slightly less at 1.56 million, or about 3.09% of the stock, which is worth about $991.22 million.

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