Souders Financial Advisors Takes Position in MercadoLibre, Inc. (NASDAQ:MELI)

Souders Financial Advisors acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 122 shares of the company's stock, valued at approximately $238,000.

A number of other large investors have also added to or reduced their stakes in the stock. Capital International Investors boosted its position in MercadoLibre by 38.7% during the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company's stock worth $2,868,869,000 after purchasing an additional 470,829 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of MercadoLibre by 41.0% in the fourth 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 acquiring an additional 405,425 shares during the period. Capital World Investors boosted its position in shares of MercadoLibre by 24.5% in the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company's stock valued at $2,667,386,000 after acquiring an additional 308,973 shares during the period. Norges Bank bought a new position in shares of MercadoLibre in the fourth quarter valued at approximately $383,051,000. Finally, Capital Research Global Investors boosted its position in shares of MercadoLibre by 8.0% in the fourth quarter. Capital Research Global Investors now owns 2,415,815 shares of the company's stock valued at $4,108,079,000 after acquiring an additional 179,807 shares during the period. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,413.57 on Monday. The firm has a market cap of $122.37 billion, a P/E ratio of 59.36, a P/E/G ratio of 1.43 and a beta of 1.49. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57. MercadoLibre, Inc. has a 12 month low of $1,579.78 and a 12 month high of $2,645.22. The stock's fifty day moving average price is $2,492.77 and its 200-day moving average price is $2,187.43.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MELI shares. JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Morgan Stanley reaffirmed an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. Cantor Fitzgerald lowered their target price on shares of MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 11th. Benchmark downgraded shares of MercadoLibre from a "buy" rating to a "cautious" rating in a research note on Thursday, May 1st. Finally, Jefferies Financial Group reissued a "hold" rating and set a $2,800.00 price target (up from $2,450.00) on shares of MercadoLibre in a research note on Thursday, June 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $2,645.94.

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.

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