Recently, several institutional investors changed their positions in MercadoLibre. Ariadne Wealth invested $339,000, while Cetera Investment Advisers increased their stake by 6.8%, now holding shares worth $10.13 million after adding 392 shares. Granite Bay Wealth invested about $5.21 million, Ted Buchan & Co. put in $371,000, and EP Wealth Advisors invested $240,000. In total, institutional investors own 87.62% of MercadoLibre’s stock.
MercadoLibre Stock Falls 4.6%
MercadoLibre stock opened at $1,970.72. The market cap is $99.91 billion, with a P/E ratio of 88.18. The stock has seen a low of $1,141.04 and a high of $2,161.73 in the past year.
On August 1st, MercadoLibre reported quarterly earnings of $10.48 per share, exceeding estimates of $8.53. The company saw a revenue of $5.07 billion, up 41.5% from last year, with a net margin of 8.03%. Analysts predict an average EPS of 35.79 for this fiscal year.
New Price Targets from Analysts
Market analysts have updated their views on MELI. StockNews.com downgraded it to a hold, while Bank of America raised their target price from $2,250 to $2,500. Raymond James set a target of $2,350, with Cantor Fitzgerald at $2,530. However, JPMorgan Chase downgraded it to neutral with a $2,400 target. Overall, there are three hold ratings, thirteen buy ratings, and one strong buy, leading to a consensus rating of Moderate Buy with an average price target of $2,246.07.
View Our Latest Report on MercadoLibre
About MercadoLibre
MercadoLibre operates online platforms for commerce and finance in the U.S., including Mercado Libre Marketplace for digital sales and Mercado Pago for payment processing.
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Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com for the latest data on MercadoLibre, Inc.
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