Evanson Asset Management LLC Buys New Position in MercadoLibre, Inc. $MELI

Evanson Asset Management LLC bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 124 shares of the company’s stock, valued at approximately $324,000.

Other large investors have also recently made changes to their positions in the company. Banco Santander S.A. raised its stake in shares of MercadoLibre by 221.9% during the first quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock worth $5,357,000 after acquiring an additional 1,893 shares in the last quarter. Prospect Financial Services LLC raised its stake in shares of MercadoLibre by 41.7% during the first quarter. Prospect Financial Services LLC now owns 340 shares of the company’s stock worth $663,000 after acquiring an additional 100 shares in the last quarter. Stratos Investment Management LLC purchased a new position in shares of MercadoLibre during the first quarter worth approximately $203,000. Avant Financial Advisors LLC purchased a new position in shares of MercadoLibre during the fourth quarter worth approximately $316,000. Finally, Ground Swell Capital LLC purchased a new position in shares of MercadoLibre during the first quarter worth approximately $439,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MELI has been the topic of several analyst reports. Barclays decreased their target price on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their target price on shares of MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Benchmark reaffirmed a “buy” rating and issued a $2,875.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Wedbush set a $2,700.00 target price on shares of MercadoLibre and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Finally, UBS Group set a $3,000.00 target price on shares of MercadoLibre in a research note on Monday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and an average price target of $2,828.33.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,510.97 on Thursday. The stock has a market cap of $127.31 billion, a P/E ratio of 62.01, a price-to-earnings-growth ratio of 1.62 and a beta of 1.49. The firm’s fifty day simple moving average is $2,387.92 and its 200 day simple moving average is $2,325.53. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). The company had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business’s revenue was up 33.8% on a year-over-year basis. During the same quarter last year, the firm earned $10.48 EPS. As a group, research analysts predict that MercadoLibre, Inc. will post 43.96 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.