S Bank Fund Management Ltd Takes Position in MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• S Bank Fund Management Ltd has acquired a new stake in MercadoLibre, Inc., purchasing 468 shares valued at approximately $913,000 in the first quarter.
• MercadoLibre reported a 33.8% increase in revenue year-over-year for the quarter, totaling $6.79 billion, despite missing EPS estimates by $1.70.
• Analysts maintain a consensus rating of "Moderate Buy" for MercadoLibre, with price targets ranging from $2,795.00 to $3,500.00.

S Bank Fund Management Ltd purchased a new position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 468 shares of the company's stock, valued at approximately $913,000.

Other hedge funds also recently bought and sold shares of the company. Banco Santander S.A. lifted its position in shares of MercadoLibre by 221.9% during the first quarter. Banco Santander S.A. now owns 2,746 shares of the company's stock worth $5,357,000 after purchasing an additional 1,893 shares during the last quarter. Prospect Financial Services LLC increased its position in shares of MercadoLibre by 41.7% during the first quarter. Prospect Financial Services LLC now owns 340 shares of the company's stock worth $663,000 after purchasing an additional 100 shares in the last quarter. Stratos Investment Management LLC purchased a new stake in MercadoLibre in the 1st quarter valued at $203,000. JARISLOWSKY FRASER Ltd lifted its stake in shares of MercadoLibre by 43.6% in the 4th quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company's stock valued at $5,525,000 after purchasing an additional 987 shares during the last quarter. Finally, Avant Financial Advisors LLC purchased a new position in shares of MercadoLibre during the 4th quarter worth $316,000. Institutional investors own 87.62% of the company's stock.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,350.83 on Wednesday. The company has a market cap of $119.19 billion, a P/E ratio of 58.06, a P/E/G ratio of 1.46 and a beta of 1.46. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The business has a fifty day simple moving average of $2,426.54 and a 200-day simple moving average of $2,251.59.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Daiwa Capital Markets assumed coverage on MercadoLibre in a research report on Friday, August 1st. They issued a "buy" rating and a $3,000.00 price target on the stock. Benchmark reiterated a "buy" rating and issued a $2,875.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Barclays dropped their price objective on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. The Goldman Sachs Group increased their price objective on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Finally, Scotiabank initiated coverage on MercadoLibre in a report on Monday, July 28th. They issued a "sector outperform" rating and a $3,500.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, MercadoLibre has a consensus rating of "Moderate Buy" and a consensus target price of $2,795.00.

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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