Several institutional investors recently changed their holdings in MercadoLibre. Ariadne Wealth Management LP invested $339,000, while Cetera Investment Advisers increased its stake by 6.8%, owning a total of 6,163 shares worth $10.13 million after buying 392 more shares. Granite Bay Wealth Management acquired a new position valued at about $5.21 million, and Ted Buchan & Co. purchased shares worth $371,000. EP Wealth Advisors also bought shares worth $240,000. Overall, institutional investors and hedge funds own 87.62% of MercadoLibre’s stock.
MercadoLibre Stock Down 4.6%
On Thursday, MercadoLibre stock opened at $1,970.72. The company has a market cap of $99.91 billion, a P/E ratio of 88.18, and a beta of 1.61. Its 50-day average is $1,962.54, and the 200-day average is $1,721.79. The company has a debt-to-equity ratio of 0.67 and recorded a low of $1,141.04 and a high of $2,161.73 over the past year.
MercadoLibre’s most recent earnings report on August 1st showed an EPS of $10.48, exceeding analysts’ expectations of $8.53. The company reported a net margin of 8.03% and revenue of $5.07 billion, which was above the expected $4.64 billion. Compared to last year, revenue increased by 41.5%. Analysts expect an EPS of 35.79 for the current fiscal year.
New Price Targets from Analysts
Several analysts have updated their ratings for MercadoLibre. StockNews.com downgraded it from “buy” to “hold,” while Bank of America raised its target from $2,250 to $2,500. Raymond James set a price target of $2,350, and Cantor Fitzgerald has an “overweight” rating with a $2,530 target. JPMorgan Chase downgraded the stock to “neutral” with a target of $2,400. Currently, the consensus rating is “Moderate Buy” with an average target of $2,246.07.
Check Our Latest Report on MercadoLibre
About MercadoLibre
MercadoLibre, Inc. runs online commerce platforms in the U.S. The company operates Mercado Libre Marketplace for online sales and the Mercado Pago platform for payment transactions, enabling users to send and receive money digitally.
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