SteelPeak Wealth LLC Acquires New Position in MercadoLibre, Inc. $MELI

Key Points

• SteelPeak Wealth LLC has acquired a new position in MercadoLibre, Inc., purchasing 223 shares valued at approximately $583,000 during the 2nd quarter.
• Wall Street analysts have set high target prices for MercadoLibre, with forecasts ranging from $2,750.00 to $3,000.00, and an average price target of $2,822.78.
• In its most recent earnings report, MercadoLibre missed earnings estimates yet showed a 33.8% increase in year-over-year revenue, highlighting ongoing growth potential.

SteelPeak Wealth LLC acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 223 shares of the company's stock, valued at approximately $583,000.

Other institutional investors also recently bought and sold shares of the company. Key Financial Inc purchased a new stake in MercadoLibre during the 1st quarter valued at about $25,000. GW&K Investment Management LLC purchased a new stake in MercadoLibre during the 1st quarter valued at about $25,000. Close Asset Management Ltd grew its position in MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after purchasing an additional 11 shares during the last quarter. Highline Wealth Partners LLC grew its position in MercadoLibre by 366.7% during the 2nd quarter. Highline Wealth Partners LLC now owns 14 shares of the company's stock valued at $37,000 after purchasing an additional 11 shares during the last quarter. Finally, Brooklyn Investment Group lifted its stake in MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company's stock valued at $29,000 after acquiring an additional 13 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MELI. Daiwa Capital Markets began coverage on shares of MercadoLibre in a research note on Friday, August 1st. They set a "buy" rating and a $3,000.00 target price on the stock. Benchmark restated a "buy" rating and set a $2,875.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Cantor Fitzgerald upped their target price on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the company an "overweight" rating in a research note on Wednesday, September 24th. Raymond James Financial restated a "strong-buy" rating and set a $2,750.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Susquehanna restated a "positive" rating and set a $2,975.00 target price (up previously from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $2,822.78.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,179.89 on Thursday. The firm's 50 day moving average price is $2,370.32 and its 200-day moving average price is $2,343.65. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $110.51 billion, a PE ratio of 53.84, a price-to-earnings-growth ratio of 1.46 and a beta of 1.46.

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 the consensus estimate of $6.57 billion. During the same quarter last year, the company earned $10.48 EPS. MercadoLibre's revenue for the quarter was up 33.8% on a year-over-year basis. Equities research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

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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