IFP Advisors Inc Buys 31 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

IFP Advisors Inc increased its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 9.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 349 shares of the company’s stock after purchasing an additional 31 shares during the quarter. IFP Advisors Inc’s holdings in MercadoLibre were worth $593,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Jennison Associates LLC raised its holdings in shares of MercadoLibre by 3.9% in the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after purchasing an additional 70,154 shares during the period. FMR LLC raised its holdings in shares of MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after purchasing an additional 137,564 shares during the period. State Street Corp raised its holdings in shares of MercadoLibre by 3.1% in the 3rd quarter. State Street Corp now owns 404,584 shares of the company’s stock worth $830,190,000 after purchasing an additional 12,000 shares during the period. Wellington Management Group LLP raised its holdings in shares of MercadoLibre by 52.9% in the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after purchasing an additional 120,922 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of MercadoLibre by 1.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 235,597 shares of the company’s stock worth $400,619,000 after purchasing an additional 3,710 shares during the period. Institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MELI shares. Cantor Fitzgerald lifted their price objective on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Susquehanna lifted their price objective on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research note on Friday, February 21st. Bank of America lifted their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. lifted their price objective on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective for the company in a research note on Tuesday, January 21st. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $2,385.94.

MercadoLibre Stock Down 0.4 %

MELI opened at $2,121.87 on Friday. The stock has a market cap of $107.57 billion, a PE ratio of 56.28, a P/E/G ratio of 1.12 and a beta of 1.62. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,374.54. The business’s fifty day simple moving average is $1,909.95 and its 200 day simple moving average is $1,966.83.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating analysts’ consensus estimates of $10.21 by $2.40. The business had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. As a group, research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share 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.