Wealthfront Advisers LLC bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 632 shares of the company's stock, valued at approximately $1,073,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Laurel Wealth Advisors LLC bought a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $26,000. Transamerica Financial Advisors LLC bought a new position in MercadoLibre in the fourth quarter worth $26,000. Purpose Unlimited Inc. bought a new position in MercadoLibre in the fourth quarter worth $28,000. Darwin Wealth Management LLC purchased a new position in MercadoLibre during the second quarter valued at $29,000. Finally, Curio Wealth LLC purchased a new position in MercadoLibre during the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 87.62% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a "neutral" rating in a report on Tuesday, August 11th. Citigroup lifted their price target on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. The Goldman Sachs Group set a $2,100.00 price objective on shares of MercadoLibre in a research note on Wednesday, May 13th. Raymond James Financial set a $2,000.00 price objective on shares of MercadoLibre in a report on Friday, May 8th. Finally, Barclays decreased their target price on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating for the company in a research note on Monday, May 11th. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, MercadoLibre has an average rating of "Moderate Buy" and an average target price of $2,272.00.
Read Our Latest Report on MercadoLibre
MercadoLibre Stock Up 0.0%
NASDAQ:MELI opened at $1,922.73 on Friday. The firm has a market cap of $97.48 billion, a P/E ratio of 52.29, a P/E/G ratio of 1.32 and a beta of 1.34. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50. The firm has a 50-day simple moving average of $1,793.05 and a two-hundred day simple moving average of $1,775.94.
MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.65 by $0.54. The business had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business's revenue for the quarter was up 49.8% compared to the same quarter last year. During the same period in the previous year, the company earned $10.31 earnings per share. Analysts predict that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.
About MercadoLibre
(
Free Report)
MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.
Key offerings include its marketplace platform and a suite of logistics and payment services.
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