Cypress Asset Management Inc. TX Grows Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Cypress Asset Management Inc. TX grew its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 4.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,952 shares of the company’s stock after acquiring an additional 153 shares during the period. MercadoLibre comprises 1.6% of Cypress Asset Management Inc. TX’s investment portfolio, making the stock its 17th biggest holding. Cypress Asset Management Inc. TX’s holdings in MercadoLibre were worth $5,989,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of MercadoLibre in the 4th quarter valued at approximately $28,000. First PREMIER Bank purchased a new stake in shares of MercadoLibre in the 1st quarter valued at approximately $27,000. Archer Investment Corp purchased a new stake in MercadoLibre during the 4th quarter worth approximately $31,000. Larson Financial Group LLC purchased a new stake in MercadoLibre during the 4th quarter worth approximately $36,000. Finally, DSM Capital Partners LLC purchased a new stake in MercadoLibre during the 4th quarter worth approximately $36,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

NASDAQ:MELI traded up $170.08 during trading hours on Friday, reaching $1,776.14. 958,293 shares of the company’s stock were exchanged, compared to its average volume of 299,322. The firm has a market capitalization of $90.05 billion, a price-to-earnings ratio of 79.47, a P/E/G ratio of 1.13 and a beta of 1.60. The company has a 50-day moving average of $1,647.02 and a 200 day moving average of $1,620.69. The company has a quick ratio of 1.25, a current ratio of 1.27 and a debt-to-equity ratio of 0.66. MercadoLibre, Inc. has a 1-year low of $1,141.04 and a 1-year high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping analysts’ consensus estimates of $8.72 by $1.76. 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%. MercadoLibre’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.16 EPS. Research analysts anticipate that MercadoLibre, Inc. will post 33.4 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. UBS Group cut their target price on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Wedbush reaffirmed an “outperform” rating and set a $1,800.00 target price on shares of MercadoLibre in a research note on Friday, May 3rd. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and upped their target price for the stock from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. Barclays upped their target price on shares of MercadoLibre from $1,800.00 to $2,000.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Finally, StockNews.com raised shares of MercadoLibre from a “hold” rating to a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $1,944.17.

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.