Left Brain Wealth Management LLC Takes Position in MercadoLibre, Inc. (NASDAQ:MELI)

Left Brain Wealth Management LLC bought a new position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 187 shares of the company's stock, valued at approximately $365,000.

A number of other institutional investors also recently bought and sold shares of MELI. LRI Investments LLC raised its holdings in MercadoLibre by 15.2% during the first quarter. LRI Investments LLC now owns 567 shares of the company's stock valued at $1,106,000 after acquiring an additional 75 shares during the period. CWM LLC raised its holdings in MercadoLibre by 10.7% during the first quarter. CWM LLC now owns 913 shares of the company's stock valued at $1,781,000 after acquiring an additional 88 shares during the period. Oxbow Advisors LLC bought a new stake in MercadoLibre during the first quarter valued at about $211,000. Pittenger & Anderson Inc. raised its holdings in MercadoLibre by 0.9% during the first quarter. Pittenger & Anderson Inc. now owns 2,947 shares of the company's stock valued at $5,749,000 after acquiring an additional 25 shares during the period. Finally, Stephens Inc. AR raised its holdings in MercadoLibre by 18.8% during the first quarter. Stephens Inc. AR now owns 1,453 shares of the company's stock valued at $2,835,000 after acquiring an additional 230 shares during the period. 87.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on MELI shares. Cantor Fitzgerald decreased their price target on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating on the stock in a report on Wednesday, June 11th. UBS Group set a $3,000.00 target price on MercadoLibre in a report on Monday, June 2nd. The Goldman Sachs Group lifted their target price on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a report on Friday, June 6th. Finally, Susquehanna reaffirmed a "positive" rating and issued a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $2,645.94.

MercadoLibre Trading Down 0.6%

Shares of NASDAQ:MELI traded down $14.65 during trading hours on Friday, hitting $2,387.45. 341,673 shares of the company's stock traded hands, compared to its average volume of 389,303. MercadoLibre, Inc. has a 1 year low of $1,579.78 and a 1 year high of $2,645.22. The business has a fifty day moving average price of $2,486.03 and a 200-day moving average price of $2,161.17. The firm has a market capitalization of $121.04 billion, a P/E ratio of 58.72, a price-to-earnings-growth ratio of 1.42 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.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.82 by $1.92. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.55 billion. During the same quarter in the previous year, the business earned $6.78 earnings per share. The company's revenue for the quarter was up 37.0% compared to the same quarter last year. Equities analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current 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.