Goldman Sachs Group Inc. Raises Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Goldman Sachs Group Inc. increased its stake in MercadoLibre, Inc. by 18.7%, owning approximately 450,444 shares worth around $878.76 million as of the end of the first quarter.
• MercadoLibre's recent earnings report showed earnings per share of $10.31, missing analysts' expectations, but their revenue of $6.79 billion exceeded forecasts and was up 33.8% year-over-year.
• Analyst ratings for MercadoLibre are predominantly positive, with a consensus rating of "Moderate Buy" and a target price averaging around $2,795.00.

Goldman Sachs Group Inc. boosted its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 18.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 450,444 shares of the company's stock after buying an additional 70,834 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.89% of MercadoLibre worth $878,757,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Key Financial Inc purchased a new position in shares of MercadoLibre during the first quarter worth about $25,000. GW&K Investment Management LLC purchased a new position in shares of MercadoLibre during the first quarter worth about $25,000. Close Asset Management Ltd grew its holdings in shares of MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after purchasing an additional 11 shares during the last quarter. Park Square Financial Group LLC purchased a new position in shares of MercadoLibre during the fourth quarter worth about $26,000. Finally, Covestor Ltd purchased a new position in shares of MercadoLibre during the fourth quarter worth about $27,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Performance

NASDAQ:MELI traded up $18.88 during mid-day trading on Friday, reaching $2,353.70. The stock had a trading volume of 303,477 shares, compared to its average volume of 345,695. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The firm has a market capitalization of $119.33 billion, a price-to-earnings ratio of 58.13, a PEG ratio of 1.43 and a beta of 1.46. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The business has a 50 day simple moving average of $2,437.60 and a 200 day simple moving average of $2,241.91.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $6.57 billion. During the same period last year, the business posted $10.48 earnings per share. The company's quarterly revenue was up 33.8% on a year-over-year basis. On average, analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on MELI. Scotiabank initiated coverage on MercadoLibre in a report on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 price objective on the stock. UBS Group set a $3,000.00 target price on shares of MercadoLibre in a research note on Monday, June 2nd. Daiwa Capital Markets initiated coverage on shares of MercadoLibre in a research note on Friday, August 1st. They set a "buy" rating and a $3,000.00 target price for the company. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $2,750.00 target price on shares of MercadoLibre in a research note on Tuesday. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $2,795.00.

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.