Institutional investors have been active in MercadoLibre recently. Ariadne Wealth Management LP invested $339,000 in the company. Cetera Investment Advisers increased its stake by 6.8%, now owning 6,163 shares worth $10.1 million after adding 392 shares. Granite Bay Wealth Management LLC entered with approximately $5.2 million, Ted Buchan & Co invested about $371,000, and EP Wealth Advisors LLC added $240,000. Overall, 87.62% of the stock is held by institutional investors.
MercadoLibre Stock Performance
MercadoLibre stock opened at $1,970.72. The company’s market cap is $99.91 billion, with a P/E ratio of 88.18 and a beta of 1.61. It has a 50-day moving average of $1,962.54 and a 200-day average of $1,721.79. The stock has fluctuated between a low of $1,141.04 and a high of $2,161.73 over the past year.
MercadoLibre reported quarterly earnings of $10.48 per share on August 1st, exceeding estimates of $8.53. Revenue was $5.07 billion, higher than the expected $4.64 billion, marking a 41.5% year-over-year increase. Analysts forecast earnings of $35.79 per share for the current fiscal year.
Analyst Ratings and Price Targets
MELI has received mixed analyst ratings. StockNews.com downgraded it from “buy” to “hold.” Bank of America raised its target price from $2,250 to $2,500, while Raymond James set a price target of $2,350. Cantor Fitzgerald maintained an “overweight” rating with a $2,530 target. JPMorgan Chase downgraded it to “neutral” with a $2,400 price target. Currently, the average price target is $2,246.07, with a “Moderate Buy” consensus rating.
About MercadoLibre
MercadoLibre operates online commerce platforms in the U.S., including Mercado Libre Marketplace for buying and selling goods and Mercado Pago for digital payments and financial solutions.
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