Wealthfront Advisers LLC Takes Position in MercadoLibre, Inc. $MELI

Wealthfront Advisers LLC acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 632 shares of the company’s stock, valued at approximately $1,073,000.

Several other large investors also recently bought and sold shares of MELI. Capital Research Global Investors raised its position in MercadoLibre by 22.5% in the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after buying an additional 408,939 shares during the last quarter. Capital International Investors boosted its holdings in shares of MercadoLibre by 7.3% during the 4th quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock valued at $3,474,880,000 after acquiring an additional 118,018 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of MercadoLibre by 9.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock valued at $3,188,718,000 after acquiring an additional 137,100 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of MercadoLibre during the 2nd quarter valued at about $2,246,015,000. Finally, Janus Henderson Group PLC grew its stake in shares of MercadoLibre by 1.7% in the first quarter. Janus Henderson Group PLC now owns 614,238 shares of the company’s stock worth $1,062,019,000 after acquiring an additional 10,142 shares during the period. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MELI shares. Weiss Ratings reissued a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. Scotiabank dropped their target price on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 7th. Raymond James Financial set a $2,000.00 target price on shares of MercadoLibre in a research report on Friday, May 8th. Daiwa Securities Group lowered shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price for the company. in a research note on Friday, May 8th. Finally, Benchmark lowered their price target on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2,272.00.

MercadoLibre Price Performance

NASDAQ MELI opened at $1,922.73 on Friday. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,548.50. The firm has a market capitalization of $97.48 billion, a P/E ratio of 52.29, a PEG ratio of 1.32 and a beta of 1.34. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average price of $1,793.05 and a 200-day moving average price of $1,775.94.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, topping the consensus estimate of $8.65 by $0.54. The firm had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business’s quarterly revenue was up 49.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.31 EPS. Equities research analysts anticipate that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.