JARISLOWSKY FRASER Ltd Purchases 987 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

JARISLOWSKY FRASER Ltd lifted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 43.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,249 shares of the company's stock after acquiring an additional 987 shares during the period. JARISLOWSKY FRASER Ltd's holdings in MercadoLibre were worth $5,525,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Capital International Investors lifted its holdings in shares of MercadoLibre by 38.7% during the fourth 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 in the last quarter. Price T Rowe Associates Inc. MD grew its stake 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 worth $2,370,848,000 after acquiring an additional 405,425 shares during the period. Wealthfront Advisers LLC purchased a new position in shares of MercadoLibre during the fourth quarter valued at approximately $565,306,000. Capital World Investors lifted its position in MercadoLibre by 24.5% during the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company's stock valued at $2,667,386,000 after purchasing an additional 308,973 shares during the period. Finally, Norges Bank purchased a new stake in MercadoLibre in the fourth quarter worth approximately $383,051,000. 87.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price target on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 25th. StockNews.com upgraded MercadoLibre from a "hold" rating to a "buy" rating in a research note on Thursday. Barclays upped their price target on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a research report on Thursday. Bank of America raised their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Finally, Cantor Fitzgerald decreased their price target on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $2,504.67.

MercadoLibre Trading Up 1.8 %

Shares of MELI opened at $2,452.53 on Friday. The firm has a market cap of $124.34 billion, a P/E ratio of 65.05, a price-to-earnings-growth ratio of 1.12 and a beta of 1.61. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a 1 year low of $1,550.00 and a 1 year high of $2,501.00. The company has a 50 day simple moving average of $2,081.98 and a two-hundred day simple moving average of $1,982.03.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.82 by $1.92. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. During the same period in the previous year, the firm posted $6.78 EPS. MercadoLibre's revenue for the quarter was up 37.0% compared to the same quarter last year. On average, equities analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share 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.

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