MercadoLibre, Inc. (NASDAQ:MELI) Shares Acquired by Prudential PLC

Prudential PLC grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 10.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,641 shares of the company’s stock after purchasing an additional 540 shares during the quarter. Prudential PLC’s holdings in MercadoLibre were worth $9,270,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. First PREMIER Bank purchased a new position in shares of MercadoLibre during the first quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after buying an additional 16 shares during the period. DSM Capital Partners LLC purchased a new position in shares of MercadoLibre during the fourth quarter valued at approximately $36,000. Scarborough Advisors LLC purchased a new position in shares of MercadoLibre during the fourth quarter valued at approximately $36,000. Finally, Financial Connections Group Inc. purchased a new position in shares of MercadoLibre during the second quarter valued at approximately $36,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MELI has been the topic of several recent analyst reports. BTIG Research upped their price objective on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Citigroup increased their price target on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Barclays increased their price target on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. JPMorgan Chase & Co. increased their price target on shares of MercadoLibre from $2,150.00 to $2,400.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Finally, Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and increased their price target for the stock from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $2,141.25.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,029.91 on Tuesday. The company’s fifty day simple moving average is $1,823.09 and its 200-day simple moving average is $1,660.50. MercadoLibre, Inc. has a 52 week low of $1,141.04 and a 52 week high of $2,064.76. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The company has a market cap of $102.92 billion, a PE ratio of 90.82, a P/E/G ratio of 1.29 and a beta of 1.60.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. The business had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The business’s revenue for the quarter was up 41.5% compared to the same quarter last year. During the same quarter last year, the firm posted $5.16 EPS. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 35.22 EPS for the current 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.