Financial Perspectives Inc Raises Position in MercadoLibre, Inc. (NASDAQ:MELI)

Financial Perspectives Inc lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 0.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,433 shares of the company’s stock after purchasing an additional 11 shares during the period. MercadoLibre comprises approximately 0.9% of Financial Perspectives Inc’s portfolio, making the stock its 25th largest holding. Financial Perspectives Inc’s holdings in MercadoLibre were worth $2,252,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Turtle Creek Wealth Advisors LLC bought a new position in MercadoLibre in the fourth quarter worth approximately $28,000. Archer Investment Corp bought a new position in MercadoLibre in the fourth quarter worth approximately $31,000. Proffitt & Goodson Inc. bought a new position in MercadoLibre in the third quarter worth approximately $32,000. NBC Securities Inc. bought a new position in MercadoLibre in the third quarter worth approximately $35,000. Finally, Larson Financial Group LLC bought a new position in MercadoLibre in the fourth quarter worth approximately $36,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MELI. Susquehanna increased their target price on MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. increased their target price on MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. DZ Bank upgraded MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price objective for the company in a report on Tuesday. UBS Group lowered their price target on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Finally, Barclays cut their price target on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,804.64.

MercadoLibre Stock Performance

Shares of NASDAQ MELI traded up $26.77 during midday trading on Tuesday, reaching $1,395.00. 416,349 shares of the stock were exchanged, compared to its average volume of 387,495. The firm has a market cap of $70.73 billion, a price-to-earnings ratio of 70.02, a PEG ratio of 0.87 and a beta of 1.44. MercadoLibre, Inc. has a twelve month low of $1,063.02 and a twelve month high of $1,825.00. The firm has a 50-day simple moving average of $1,552.54 and a two-hundred day simple moving average of $1,528.67. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.72.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). The firm had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.14 billion. MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. MercadoLibre’s revenue for the quarter was up 42.0% compared to the same quarter last year. During the same period in the previous year, the business earned $3.25 EPS. As a group, analysts anticipate that MercadoLibre, Inc. will post 35.77 EPS for the current fiscal year.

MercadoLibre Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.