Kestra Private Wealth Services LLC Acquires Shares of 211 MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Kestra Private Wealth Services LLC has acquired 211 shares of MercadoLibre, Inc. during the first quarter, valued at approximately $412,000.
• MercadoLibre reported an earnings per share (EPS) of $9.74 for the last quarter, exceeding analysts' expectations of $7.82 and marking a 37% year-over-year revenue increase.
• Analyst ratings for MercadoLibre show a consensus of "Moderate Buy" with an average target price of $2,639.69.

Kestra Private Wealth Services LLC acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 211 shares of the company's stock, valued at approximately $412,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Key Financial Inc acquired a new stake in shares of MercadoLibre during the 1st quarter worth $25,000. Park Square Financial Group LLC acquired a new stake in shares of MercadoLibre during the 4th quarter worth $26,000. Covestor Ltd acquired a new stake in shares of MercadoLibre during the 4th quarter worth $27,000. Heck Capital Advisors LLC acquired a new stake in shares of MercadoLibre during the 4th quarter worth $32,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of MercadoLibre by 375.0% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 19 shares of the company's stock worth $37,000 after purchasing an additional 15 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Price Performance

Shares of MELI opened at $2,362.56 on Friday. MercadoLibre, Inc. has a 1 year low of $1,579.78 and a 1 year high of $2,645.22. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18. The company has a market capitalization of $119.77 billion, a price-to-earnings ratio of 58.11, a price-to-earnings-growth ratio of 1.40 and a beta of 1.49. The business has a 50-day moving average of $2,475.90 and a 200-day moving average of $2,205.35.

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

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Morgan Stanley reissued an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. Jefferies Financial Group restated a "hold" rating and set a $2,800.00 price objective (up from $2,450.00) on shares of MercadoLibre in a research report on Thursday, June 5th. UBS Group set a $3,000.00 price objective on MercadoLibre in a research report on Monday, June 2nd. The Goldman Sachs Group upped their price objective on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Finally, Cantor Fitzgerald dropped their price objective on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating for the company in a research report on Wednesday, June 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, MercadoLibre has a consensus rating of "Moderate Buy" and an average target price of $2,639.69.

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.

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