Flossbach Von Storch SE boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 3.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,207 shares of the company's stock after buying an additional 354 shares during the period. Flossbach Von Storch SE's holdings in MercadoLibre were worth $19,913,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of MELI. Bank Pictet & Cie Europe AG bought a new stake in shares of MercadoLibre in the 4th quarter worth $561,000. Callan Family Office LLC bought a new stake in shares of MercadoLibre in the fourth quarter worth $291,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of MercadoLibre in the fourth quarter worth $434,000. Edgestream Partners L.P. bought a new stake in shares of MercadoLibre in the fourth quarter worth $682,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of MercadoLibre in the fourth quarter worth $94,000. Institutional investors own 87.62% of the company's stock.
Analysts Set New Price Targets
Several brokerages recently commented on MELI. Wall Street Zen lowered MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Benchmark lowered MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. The Goldman Sachs Group boosted their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Cantor Fitzgerald cut their price target on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating for the company in a report on Wednesday, June 11th. Finally, JPMorgan Chase & Co. boosted their price target on MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $2,645.94.
Read Our Latest Research Report on MercadoLibre
MercadoLibre Stock Performance
MercadoLibre stock opened at $2,476.60 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18. MercadoLibre, Inc. has a 1-year low of $1,579.78 and a 1-year high of $2,645.22. The firm has a market capitalization of $125.56 billion, a P/E ratio of 60.91, a price-to-earnings-growth ratio of 1.49 and a beta of 1.49. The company's 50-day moving average is $2,478.82 and its 200 day moving average is $2,146.93.
MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $5.55 billion. During the same period last year, the firm earned $6.78 earnings per share. The company's quarterly revenue was up 37.0% on a year-over-year basis. Research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.
MercadoLibre Profile
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Free Report)
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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