US Bancorp DE Purchases 8,424 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• US Bancorp DE increased its holdings in MercadoLibre, Inc. by 36.8%, owning a total of 31,296 shares valued at approximately $61.05 million following the purchase of an additional 8,424 shares in the first quarter.
• MercadoLibre reported $9.74 earnings per share (EPS) for the latest quarter, exceeding analysts' estimates of $7.82, with revenues reaching $5.94 billion—an increase of 37% year-over-year.
• Analysts have mixed ratings for MercadoLibre, with a consensus rating of "Moderate Buy" and an average price target of $2,707.50, with some ratings ranging from "sell" to "strong buy".

US Bancorp DE boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 36.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,296 shares of the company's stock after buying an additional 8,424 shares during the period. US Bancorp DE owned about 0.06% of MercadoLibre worth $61,054,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Capital International Investors lifted its position in MercadoLibre by 38.7% during 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 during the period. Price T Rowe Associates Inc. MD lifted 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 worth $2,370,848,000 after buying an additional 405,425 shares in the last quarter. Capital World Investors lifted 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 buying an additional 308,973 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of MercadoLibre by 8.0% during the fourth quarter. Capital Research Global Investors now owns 2,415,815 shares of the company's stock worth $4,108,079,000 after acquiring an additional 179,807 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in MercadoLibre by 170.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 274,960 shares of the company's stock valued at $536,411,000 after purchasing an additional 173,449 shares during the period. Institutional investors and hedge funds own 87.62% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MELI shares. The Goldman Sachs Group lifted their price objective on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Scotiabank assumed coverage on MercadoLibre in a research note on Monday, July 28th. They issued a "sector outperform" rating and a $3,500.00 price target for the company. UBS Group set a $3,000.00 price objective on MercadoLibre in a research report on Monday, June 2nd. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $2,700.00 price target on shares of MercadoLibre in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, MercadoLibre has a consensus rating of "Moderate Buy" and a consensus price target of $2,789.44.

MercadoLibre Price Performance

Shares of NASDAQ MELI traded down $90.80 during midday trading on Wednesday, hitting $2,317.22. 612,165 shares of the company's stock were exchanged, compared to its average volume of 396,978. 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 $1,646.00 and a 12-month high of $2,645.22. The company has a market cap of $117.48 billion, a price-to-earnings ratio of 57.23, a PEG ratio of 1.42 and a beta of 1.46. The business's fifty day moving average price is $2,450.65 and its two-hundred day moving average price is $2,234.32.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.01 by ($1.70). The business had revenue of $6.79 billion for the quarter, compared to analysts' expectations of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 46.11%. The business's quarterly revenue was up 33.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $10.48 earnings per share. As a group, research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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.