Banque Cantonale Vaudoise Acquires Shares of 978 MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Banque Cantonale Vaudoise has acquired 978 shares of MercadoLibre, Inc. (NASDAQ:MELI), valued at approximately $1.9 million, in the first quarter of the year.
• MercadoLibre reported a significant earnings beat for its latest quarter, with earnings per share of $9.74 exceeding estimates by $1.92 and year-over-year revenue growth of 37%.
• Research analysts have mixed views on the stock, with target prices ranging from $2,690.29 to $2,975.00, suggesting varying confidence in the company's prospects.

Banque Cantonale Vaudoise bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 978 shares of the company's stock, valued at approximately $1,908,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. GSA Capital Partners LLP acquired a new position in MercadoLibre in the 1st quarter valued at $2,277,000. Federated Hermes Inc. grew its position in MercadoLibre by 0.6% in the 1st quarter. Federated Hermes Inc. now owns 50,897 shares of the company's stock worth $99,293,000 after purchasing an additional 305 shares during the last quarter. Kirtland Hills Capital Management LLC acquired a new stake in MercadoLibre in the 1st quarter worth $720,000. Meeder Advisory Services Inc. grew its position in MercadoLibre by 10.7% in the 1st quarter. Meeder Advisory Services Inc. now owns 919 shares of the company's stock worth $1,793,000 after purchasing an additional 89 shares during the last quarter. Finally, Picton Mahoney Asset Management acquired a new stake in MercadoLibre in the 1st quarter worth $1,027,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Price Performance

MELI stock traded up $2.03 during trading on Friday, hitting $2,375.92. 375,200 shares of the stock traded hands, compared to its average volume of 256,589. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. The stock has a market cap of $120.46 billion, a price-to-earnings ratio of 58.43, a P/E/G ratio of 1.41 and a beta of 1.46. The company has a 50 day simple moving average of $2,455.84 and a 200 day simple moving average of $2,223.79. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.82 by $1.92. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. During the same period last year, the firm posted $6.78 EPS. The firm's quarterly revenue was up 37.0% on a year-over-year basis. Equities analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Barclays decreased their price target on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Susquehanna restated a "positive" rating and issued a $2,975.00 price target (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Benchmark lowered shares of MercadoLibre from a "buy" rating to a "cautious" rating in a research report on Thursday, May 1st. Daiwa Capital Markets assumed coverage on shares of MercadoLibre in a research report on Friday. They issued a "buy" rating and a $3,000.00 price target on the stock. Finally, UBS Group set a $3,000.00 price target on shares of MercadoLibre in a research report on Monday, June 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $2,707.50.

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.