MercadoLibre, Inc. $MELI is TenCore Partners LP's 9th Largest Position

Key Points

• TenCore Partners LP boosted its stake in MercadoLibre, Inc. by 4.5%, making it the 9th biggest position in their portfolio, worth approximately $7.72 million.
• MercadoLibre reported a miss in earnings with $10.31 EPS, below the consensus estimate of $12.01, but achieved a revenue of $6.79 billion, surpassing expectations.
• Analysts have varying opinions on the stock, with an average rating of "Moderate Buy" and a target price of $2,817.22, indicating potential continued interest in the company's growth prospects.

TenCore Partners LP increased its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 4.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,958 shares of the company's stock after acquiring an additional 170 shares during the period. MercadoLibre comprises approximately 4.1% of TenCore Partners LP's portfolio, making the stock its 9th largest position. TenCore Partners LP's holdings in MercadoLibre were worth $7,722,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Formidable Asset Management LLC lifted its position in MercadoLibre by 3.2% in the fourth quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock worth $272,000 after buying an additional 5 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of MercadoLibre by 4.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock valued at $201,000 after buying an additional 5 shares in the last quarter. Sonora Investment Management Group LLC increased its position in MercadoLibre by 3.1% during the 1st quarter. Sonora Investment Management Group LLC now owns 168 shares of the company's stock valued at $328,000 after buying an additional 5 shares in the last quarter. Beacon Capital Management LLC grew its position in MercadoLibre by 8.3% during the 1st quarter. Beacon Capital Management LLC now owns 65 shares of the company's stock worth $127,000 after purchasing an additional 5 shares during the last quarter. Finally, Forum Financial Management LP raised its holdings in shares of MercadoLibre by 3.1% in the first quarter. Forum Financial Management LP now owns 199 shares of the company's stock worth $388,000 after buying an additional 6 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Trading Down 0.5%

Shares of NASDAQ MELI traded down $10.79 during trading on Thursday, hitting $2,338.20. 330,897 shares of the company were exchanged, compared to its average volume of 389,439. The company has a fifty day moving average price of $2,391.71 and a 200-day moving average price of $2,304.11. 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 $118.55 billion, a PE ratio of 57.75, a P/E/G ratio of 1.54 and a beta of 1.49. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business had revenue of $6.79 billion during the quarter, compared to analysts' expectations of $6.57 billion. During the same quarter in the previous year, the company posted $10.48 earnings per share. The company's revenue was up 33.8% on a year-over-year basis. As a group, equities research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MELI. JPMorgan Chase & Co. increased their price objective on MercadoLibre from $2,600.00 to $2,700.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Benchmark reiterated a "buy" rating and issued a $2,875.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Citigroup decreased their price target on MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating for the company in a report on Monday, August 18th. Wedbush set a $2,700.00 price target on shares of MercadoLibre and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $2,700.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, MercadoLibre currently has an average rating of "Moderate Buy" and a consensus target price of $2,817.22.

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.