MercadoLibre, Inc. (NASDAQ:MELI) Stock Position Lifted by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in MercadoLibre, Inc. (NASDAQ:MELI) by 5.9% in the second quarter, Holdings Channel.com reports. The fund owned 4,131 shares of the company’s stock after buying an additional 231 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in MercadoLibre were worth $6,789,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in MELI. First PREMIER Bank acquired a new stake in MercadoLibre during the first quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after purchasing an additional 16 shares during the period. DSM Capital Partners LLC bought a new stake in shares of MercadoLibre in the 4th quarter worth approximately $36,000. Scarborough Advisors LLC acquired a new position in MercadoLibre during the 4th quarter valued at approximately $36,000. Finally, Financial Connections Group Inc. acquired a new stake in MercadoLibre in the second quarter worth $36,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. raised their price target on shares of MercadoLibre from $2,150.00 to $2,400.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Susquehanna boosted their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday. Finally, New Street Research cut MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and an average price target of $2,067.92.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,061.66 on Friday. The company has a 50-day moving average of $1,768.02 and a 200-day moving average of $1,648.77. The firm has a market cap of $104.52 billion, a price-to-earnings ratio of 92.24, a price-to-earnings-growth ratio of 1.13 and a beta of 1.60. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 0.66. MercadoLibre, Inc. has a twelve month low of $1,141.04 and a twelve month high of $2,064.76.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 45.61%. The firm’s revenue for the quarter was up 41.5% compared to the same quarter last year. During the same period last year, the firm posted $5.16 earnings per share. Analysts forecast that MercadoLibre, Inc. will post 33.4 earnings per share for the current fiscal year.

MercadoLibre Company 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.