Alta Capital Management LLC Purchases 492 Shares of MercadoLibre, Inc. $MELI

Key Points

• Alta Capital Management LLC increased its stake in MercadoLibre, Inc. by 3.3% during the 2nd quarter, adding 492 shares to its holdings, which are now valued at approximately $39.8 million.
• MercadoLibre's recent quarterly earnings revealed a net revenue of $6.79 billion, surpassing analysts' expectations, although its earnings per share of $10.31 fell short of the forecasted $12.01.
• Several analysts have set price targets for MercadoLibre, with targets ranging from $2,700 to $3,500, reflecting a consensus recommendation of a "Moderate Buy."

Alta Capital Management LLC lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 3.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,220 shares of the company's stock after purchasing an additional 492 shares during the period. MercadoLibre accounts for about 2.3% of Alta Capital Management LLC's investment portfolio, making the stock its 19th biggest holding. Alta Capital Management LLC's holdings in MercadoLibre were worth $39,779,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MELI. Jennison Associates LLC lifted its position in MercadoLibre by 1.6% during the 1st quarter. Jennison Associates LLC now owns 1,154,116 shares of the company's stock valued at $2,251,531,000 after acquiring an additional 18,731 shares during the period. Invesco Ltd. lifted its position in MercadoLibre by 22.4% during the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company's stock valued at $1,113,881,000 after acquiring an additional 104,554 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in MercadoLibre by 21.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company's stock valued at $1,073,823,000 after acquiring an additional 96,283 shares during the period. Generation Investment Management LLP lifted its position in MercadoLibre by 3.3% during the 1st quarter. Generation Investment Management LLP now owns 530,564 shares of the company's stock valued at $1,035,061,000 after acquiring an additional 16,878 shares during the period. Finally, GQG Partners LLC lifted its position in MercadoLibre by 23.5% during the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company's stock valued at $901,058,000 after acquiring an additional 87,912 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Down 5.1%

MELI opened at $2,048.35 on Thursday. 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 firm has a 50 day moving average price of $2,348.72 and a 200-day moving average price of $2,345.35. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The stock has a market capitalization of $103.85 billion, a price-to-earnings ratio of 50.59, a PEG ratio of 1.46 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share 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 company had revenue of $6.79 billion for the quarter, compared to analysts' expectations of $6.57 billion. During the same period in the previous year, the firm earned $10.48 earnings per share. The firm's revenue for the quarter was up 33.8% on a year-over-year basis. Equities research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wedbush set a $2,700.00 price target on shares of MercadoLibre and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Jefferies Financial Group reissued a "hold" rating and set a $2,800.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Daiwa Capital Markets started coverage on shares of MercadoLibre in a research report on Friday, August 1st. They set a "buy" rating and a $3,000.00 price target for the company. Scotiabank started coverage on shares of MercadoLibre in a report on Monday, July 28th. They issued a "sector outperform" rating and a $3,500.00 target price for the company. Finally, Cantor Fitzgerald lifted their target price on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an "overweight" rating in a report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price 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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