Raiffeisen Bank International AG Acquires 132 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Raiffeisen Bank International AG increased its stake in MercadoLibre by 5.2% during Q1, bringing its holdings to 2,691 shares worth approximately $5.51 million.
• A variety of analysts have given MercadoLibre a consensus price target of $2,707.50, with ratings ranging from "buy" to "cautious."
• MercadoLibre reported a quarterly EPS of $9.74, exceeding estimates by $1.92, along with a revenue increase of 37% year-over-year.

Raiffeisen Bank International AG increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 5.2% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,691 shares of the company's stock after purchasing an additional 132 shares during the period. Raiffeisen Bank International AG's holdings in MercadoLibre were worth $5,511,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in MELI. Capital International Investors boosted its stake in shares of MercadoLibre by 38.7% in the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company's stock valued at $2,868,869,000 after purchasing an additional 470,829 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in MercadoLibre by 41.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock valued at $2,370,848,000 after buying an additional 405,425 shares during the period. Capital World Investors boosted its position in MercadoLibre by 24.5% during the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company's stock valued at $2,667,386,000 after buying an additional 308,973 shares during the period. Capital Research Global Investors boosted its position in MercadoLibre by 8.0% during the 4th quarter. Capital Research Global Investors now owns 2,415,815 shares of the company's stock valued at $4,108,079,000 after buying an additional 179,807 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in MercadoLibre by 170.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 274,960 shares of the company's stock valued at $536,411,000 after buying an additional 173,449 shares during the period. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Price Performance

NASDAQ:MELI traded down $90.80 during trading hours on Wednesday, hitting $2,317.22. 613,404 shares of the stock traded hands, compared to its average volume of 332,910. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The company has a market cap of $117.48 billion, a price-to-earnings ratio of 57.23, a price-to-earnings-growth ratio of 1.44 and a beta of 1.46. The stock has a 50 day moving average price of $2,450.65 and a 200 day moving average price of $2,234.32.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a return on equity of 46.11% and a net margin of 8.52%. 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 firm posted $10.48 EPS. MercadoLibre's quarterly revenue was up 33.8% compared to the same quarter last year. Sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MELI. Daiwa Capital Markets began coverage on shares of MercadoLibre in a research report on Friday, August 1st. They set a "buy" rating and a $3,000.00 price target for the company. The Goldman Sachs Group raised their target price on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Wedbush dropped their target price on shares of MercadoLibre from $2,800.00 to $2,700.00 and set an "outperform" rating for the company in a research report on Tuesday. UBS Group set a $3,000.00 target price on shares of MercadoLibre in a research report on Monday, June 2nd. Finally, Jefferies Financial Group reaffirmed a "hold" rating and issued a $2,800.00 target price on shares of MercadoLibre in a research report on Tuesday. Three equities 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. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $2,789.44.

MercadoLibre 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.