454 Shares in MercadoLibre, Inc. $MELI Acquired by Axxcess Wealth Management LLC

Key Points

• Axxcess Wealth Management LLC has acquired 454 shares of MercadoLibre, Inc. valued at approximately $1,187,000 during the second quarter, indicating increased institutional interest in the stock.
• MercadoLibre recently reported earnings of $10.31 per share, missing expectations, but achieved a significant revenue increase of 33.8% year-over-year to $6.79 billion.
• The company's current market capitalization stands at $103.58 billion, with analysts rating the stock a consensus "Moderate Buy" and setting an average price target of $2,810.88.

Axxcess Wealth Management LLC purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 454 shares of the company's stock, valued at approximately $1,187,000.

A number of other institutional investors have also added to or reduced their stakes in MELI. Bison Wealth LLC acquired a new position in MercadoLibre during the 4th quarter worth approximately $206,000. Yousif Capital Management LLC acquired a new position in MercadoLibre during the 1st quarter worth approximately $261,000. Wealth Enhancement Advisory Services LLC raised its stake in MercadoLibre by 4.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,218 shares of the company's stock worth $8,230,000 after buying an additional 169 shares during the period. Ritholtz Wealth Management raised its stake in MercadoLibre by 148.3% during the 1st quarter. Ritholtz Wealth Management now owns 427 shares of the company's stock worth $833,000 after buying an additional 255 shares during the period. Finally, Brighton Jones LLC acquired a new position in MercadoLibre during the 1st quarter worth approximately $246,000. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

MELI stock opened at $2,043.06 on Friday. The firm has a market cap of $103.58 billion, a PE ratio of 50.46, a P/E/G ratio of 1.38 and a beta of 1.46. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The business has a 50 day moving average of $2,342.88 and a 200-day moving average of $2,345.99. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. During the same period in the prior year, the company earned $10.48 earnings per share. The business's revenue was up 33.8% on a year-over-year basis. As a group, sell-side analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MELI. Scotiabank began coverage on MercadoLibre in a report on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on MercadoLibre from $2,700.00 to $2,600.00 and set a "neutral" rating for the company in a report on Friday, October 3rd. Daiwa Capital Markets began coverage on MercadoLibre in a report on Friday, August 1st. They set a "buy" rating and a $3,000.00 price objective for the company. Wall Street Zen lowered MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Finally, Barclays decreased their price objective on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, MercadoLibre currently has a consensus rating of "Moderate Buy" and an average price target of $2,810.88.

MercadoLibre 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.

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