Keystone Financial Services LLC Invests $285,000 in MercadoLibre, Inc. (NASDAQ:MELI)

Keystone Financial Services LLC purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 146 shares of the company's stock, valued at approximately $285,000.

Several other hedge funds also recently added to or reduced their stakes in MELI. Shilanski & Associates Inc. purchased a new stake in shares of MercadoLibre during the 1st quarter valued at about $209,000. Goodman Advisory Group LLC acquired a new stake in MercadoLibre in the first quarter valued at approximately $4,485,000. K.J. Harrison & Partners Inc raised its stake in shares of MercadoLibre by 40.0% during the first quarter. K.J. Harrison & Partners Inc now owns 700 shares of the company's stock valued at $1,366,000 after purchasing an additional 200 shares during the period. Westfuller Advisors LLC acquired a new position in shares of MercadoLibre during the first quarter worth $208,000. Finally, Clay Northam Wealth Management LLC boosted its stake in shares of MercadoLibre by 14.1% in the first quarter. Clay Northam Wealth Management LLC now owns 267 shares of the company's stock valued at $521,000 after purchasing an additional 33 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

Shares of NASDAQ MELI traded up $34.98 during mid-day trading on Friday, hitting $2,507.03. The company had a trading volume of 194,179 shares, compared to its average volume of 388,884. MercadoLibre, Inc. has a 12 month low of $1,579.78 and a 12 month high of $2,645.22. The stock has a market cap of $127.11 billion, a price-to-earnings ratio of 61.66, a PEG ratio of 1.49 and a beta of 1.49. 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 firm's 50 day simple moving average is $2,463.43 and its two-hundred day simple moving average is $2,128.17.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results 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 return on equity of 48.46% and a net margin of 9.21%. The company had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $5.55 billion. During the same period last year, the business posted $6.78 earnings per share. The firm's quarterly revenue was up 37.0% compared to the same quarter last year. As a group, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on MELI shares. Cantor Fitzgerald lowered their target price on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating for the company in a research note on Wednesday, June 11th. 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 upped their target price on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Jefferies Financial Group reiterated a "hold" rating and set a $2,800.00 target price (up from $2,450.00) on shares of MercadoLibre in a research note on Thursday, June 5th. Finally, UBS Group set a $3,000.00 price target on shares of MercadoLibre in a research note on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $2,645.94.

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.