Credit Agricole S A Increases Stake in MercadoLibre, Inc. $MELI

Key Points

• Credit Agricole S A increased its holdings in MercadoLibre, Inc. by 126.4% in Q1, now owning approximately $33.98 million worth of shares.
• MercadoLibre's last quarterly earnings reported a miss on EPS estimates, but a 33.8% increase in revenue year-over-year.
• Wall Street analysts have varying opinions on MercadoLibre, with a consensus rating of "Moderate Buy" and an average price target of $2,817.22.

Credit Agricole S A lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 126.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,420 shares of the company's stock after buying an additional 9,725 shares during the quarter. Credit Agricole S A's holdings in MercadoLibre were worth $33,984,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Banco Santander S.A. lifted its holdings in shares of MercadoLibre by 221.9% in the 1st quarter. Banco Santander S.A. now owns 2,746 shares of the company's stock worth $5,357,000 after purchasing an additional 1,893 shares in the last quarter. Prospect Financial Services LLC lifted its holdings in shares of MercadoLibre by 41.7% in the 1st quarter. Prospect Financial Services LLC now owns 340 shares of the company's stock worth $663,000 after purchasing an additional 100 shares in the last quarter. Stratos Investment Management LLC bought a new position in shares of MercadoLibre in the 1st quarter worth $203,000. JARISLOWSKY FRASER Ltd lifted its stake in MercadoLibre by 43.6% during the 4th quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company's stock valued at $5,525,000 after acquiring an additional 987 shares in the last quarter. Finally, Avant Financial Advisors LLC bought a new position in MercadoLibre during the 4th quarter valued at $316,000. Institutional investors and hedge funds own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Jefferies Financial Group restated a "hold" rating and set a $2,800.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Scotiabank assumed coverage on MercadoLibre in a research note on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 price objective on the stock. Raymond James Financial restated a "strong-buy" rating and set a $2,750.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Morgan Stanley restated an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. Finally, Citigroup dropped their price objective on MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating on the stock in a research note on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $2,817.22.

MercadoLibre Stock Performance

Shares of MercadoLibre stock traded up $93.18 during trading hours on Friday, hitting $2,430.62. 436,058 shares of the company's stock traded hands, compared to its average volume of 369,414. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The stock has a market capitalization of $123.23 billion, a price-to-earnings ratio of 60.03, a PEG ratio of 1.58 and a beta of 1.46. The company has a fifty day simple moving average of $2,411.33 and a 200-day simple moving average of $2,275.89. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced 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 for the quarter, compared to analysts' expectations of $6.57 billion. During the same period in the prior year, the business earned $10.48 earnings per share. The company's revenue for the quarter was up 33.8% compared to the same quarter last year. Equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

About MercadoLibre

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.