Recently, several institutional investors adjusted their holdings in MercadoLibre. Ariadne Wealth Management LP purchased a new stake worth $339,000, and Cetera Investment Advisers increased its shares by 6.8%, owning 6,163 shares valued at $10.13 million after buying an additional 392 shares. Granite Bay Wealth Management LLC acquired shares worth about $5.21 million, while Ted Buchan & Co and EP Wealth Advisors LLC bought new stakes worth $371,000 and $240,000, respectively. Overall, 87.62% of the stock is held by institutional investors and hedge funds.
MercadoLibre Stock Declines 4.6%
MercadoLibre stock opened at $1,970.72, with a market cap of $99.91 billion. It has a P/E ratio of 88.18 and recent 50-day and 200-day averages of $1,962.54 and $1,721.79, respectively. The stock has a debt-to-equity ratio of 0.67 and a current ratio of 1.28. Its one-year low and high are $1,141.04 and $2,161.73.
In its latest earnings report on August 1st, MercadoLibre posted $10.48 EPS, exceeding estimates of $8.53. The companys revenue totaled $5.07 billion, surpassing expectations of $4.64 billion, and up 41.5% year-over-year.
Analysts Update Price Targets
MercadoLibre (MELI) has seen various analyst reports. StockNews.com downgraded it from “buy” to “hold.” Bank of America raised its target from $2,250 to $2,500, while Raymond James set a target of $2,350. Cantor Fitzgerald maintained an “overweight” rating with a target of $2,530. JPMorgan Chase downgraded it to “neutral” with a target of $2,400. Overall, analysts give a consensus rating of “Moderate Buy” with an average target of $2,246.07.
Company Profile
MercadoLibre, Inc operates e-commerce platforms in the U.S. It features Mercado Libre Marketplace, allowing businesses and individuals to sell goods online, and Mercado Pago, a fintech solution for online payments.
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