Redburn Atlantic Issues Buy Recommendation on MercadoLibre

On October 11, 2024, Redburn Atlantic began coverage of MercadoLibre (XTRA:MLB1), giving the company a Buy recommendation.

Analyst Predictions Indicate 11.89% Growth Potential

As of September 25, 2024, the average price target for MercadoLibre over the next year stands at 2,094.53 €/share. Predictions range between a low of 1,637.96 € and a high of 2,525.86 €. This average target implies a potential increase of 11.89% from the latest closing price of 1,872.00 € per share.

Projected Revenue and Earnings

MercadoLibre’s anticipated annual revenue is 16,573MM, which represents a decrease of 3.13%. Additionally, the projected annual non-GAAP EPS is 24.60.

Investors’ Perspective

Currently, 2,006 funds and institutions hold positions in MercadoLibre, reflecting an increase of 57 owners, or 2.92%, compared to the previous quarter. The average portfolio weight of funds invested in MLB1 has risen to 0.91%, an increase of 1.85%. Over the past three months, total shares owned by institutions have grown by 4.74%, now totaling 50,801K shares.

Notable Institutional Investors

Baillie Gifford currently holds 4,846K shares, which accounts for 9.56% of the company. Previously, they had reported ownership of 5,037K shares, indicating a decrease of 3.93%. However, Baillie Gifford has increased its portfolio allocation in MLB1 by 4.74% since last quarter.

Capital Research Global Investors owns 2,331K shares, making up 4.60% of the company. Their prior stake was 2,360K shares, showing a decrease of 1.26%. Yet, they enhanced their portfolio allocation by 4.10% in the last quarter.

JPMorgan Chase owns 1,814K shares, representing 3.58% of the company. Previously, their stake was 2,077K shares—a decrease of 14.51%. Their portfolio allocation in MLB1 dropped by 7.82% during the last quarter.

Jennison Associates holds 1,804K shares, which is 3.56% of MercadoLibre. In their previous report, they owned 1,797K shares, indicating a slight increase of 0.35%. Their portfolio allocation increased by 4.56% last quarter.

The Vanguard International Growth Fund Investor Shares (VWIGX) has ownership of 1,289K shares, representing 2.54% of the company. This is down from their previous holding of 1,361K shares, marking a decrease of 5.58%, even as the firm managed to increase its portfolio allocation by 0.42% last quarter.

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The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.