Investments in MercadoLibre
Various institutional investors have changed their stakes in MercadoLibre recently. Ariadne Wealth Management LP invested $339,000 in the second quarter. Cetera Investment Advisers increased its shares by 6.8% to own 6,163 shares valued at $10.13 million after buying 392 additional shares. Granite Bay Wealth Management LLC invested about $5.21 million, while Ted Buchan & Co acquired shares worth approximately $371,000. EP Wealth Advisors LLC added a stake valued at $240,000. Overall, institutional investors and hedge funds own 87.62% of MercadoLibre’s stock.
Market Performance
MercadoLibre stock opened at $1,970.72, giving the company a market cap of $99.91 billion. Key figures include a P/E ratio of 88.18, and it has fluctuated between a low of $1,141.04 and a high of $2,161.73 over the past year.
Recent Earnings Report
MercadoLibre reported quarterly earnings on August 1, showing $10.48 per share, surpassing expectations of $8.53. The company had revenues of $5.07 billion, exceeding the anticipated $4.64 billion, and revenue increased by 41.5% year-over-year. Analysts predict earnings will average $35.79 per share for this fiscal year.
Analysts’ Price Targets
Stock ratings for MercadoLibre have varied: StockNews downgraded it to “hold” from “buy,” while Bank of America raised their target price to $2,500. Raymond James assigned a target of $2,350 and Cantor Fitzgerald set theirs at $2,530. JPMorgan downgraded the stock to “neutral,” with a $2,400 target. Currently, MercadoLibre has a consensus rating of “Moderate Buy” with an average target price of $2,246.07.
Company Overview
MercadoLibre, Inc. operates online marketplaces in the U.S., including the Mercado Libre Marketplace for buying and selling goods and the Mercado Pago platform for digital payments.
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