Cambridge Investment Research Advisors Inc. Purchases 659 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Cambridge Investment Research Advisors Inc. raised its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 16.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,609 shares of the company's stock after buying an additional 659 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in MercadoLibre were worth $8,992,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Park Square Financial Group LLC bought a new position in MercadoLibre in the fourth quarter valued at approximately $26,000. Covestor Ltd acquired a new stake in shares of MercadoLibre in the 4th quarter valued at $27,000. Heck Capital Advisors LLC acquired a new stake in shares of MercadoLibre in the 4th quarter valued at $32,000. VSM Wealth Advisory LLC bought a new position in shares of MercadoLibre in the 4th quarter valued at $37,000. Finally, Banque Transatlantique SA acquired a new position in shares of MercadoLibre during the 4th quarter worth $41,000. 87.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Barclays raised their price objective on MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. The Goldman Sachs Group increased their target price on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. UBS Group set a $3,000.00 price target on shares of MercadoLibre in a research note on Monday, June 2nd. Citigroup reissued a "buy" rating on shares of MercadoLibre in a report on Friday, June 6th. Finally, Jefferies Financial Group restated a "hold" rating and set a $2,800.00 price objective (up previously from $2,450.00) on shares of MercadoLibre in a research report on Thursday, June 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $2,632.50.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,540.50 on Thursday. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57. MercadoLibre, Inc. has a twelve month low of $1,563.21 and a twelve month high of $2,635.88. The company has a fifty day moving average of $2,413.70 and a 200-day moving average of $2,099.89. The firm has a market capitalization of $128.80 billion, a P/E ratio of 62.48, a P/E/G ratio of 1.50 and a beta of 1.51.

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

MercadoLibre Company 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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