Canopy Partners LLC Takes Position in MercadoLibre, Inc. $MELI

Key Points

• Canopy Partners LLC acquired 146 shares of MercadoLibre, Inc. valued at approximately $382,000 during the 2nd quarter.
• Analysts provide mixed ratings on MELI stock, with Citigroup lowering their price target to $2,850 and JPMorgan raising theirs to $2,700.
• MercadoLibre reported $10.31 EPS for its latest quarter, missing estimates, though revenue increased by 33.8% year-over-year.

Canopy Partners LLC bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 146 shares of the company's stock, valued at approximately $382,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Key Financial Inc acquired a new position in shares of MercadoLibre in the first quarter valued at approximately $25,000. GW&K Investment Management LLC acquired a new position in shares of MercadoLibre in the first quarter valued at approximately $25,000. Close Asset Management Ltd grew its position in shares of MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after purchasing an additional 11 shares during the last quarter. Highline Wealth Partners LLC grew its position in shares of MercadoLibre by 366.7% in the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company's stock valued at $37,000 after purchasing an additional 11 shares during the last quarter. Finally, Park Square Financial Group LLC acquired a new position in shares of MercadoLibre in the fourth quarter valued at approximately $26,000. Institutional investors and hedge funds own 87.62% of the company's stock.

Wall Street Analyst Weigh In

MELI has been the topic of several research reports. Wedbush set a $2,700.00 target price on MercadoLibre and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Daiwa Capital Markets began coverage on MercadoLibre in a research report on Friday, August 1st. They set a "buy" rating and a $3,000.00 price target on the stock. Jefferies Financial Group reissued a "hold" rating and set a $2,800.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Scotiabank began coverage on MercadoLibre in a research report on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 price target on the stock. Finally, Raymond James Financial reissued a "strong-buy" rating and set a $2,750.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. 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, the company presently has an average rating of "Moderate Buy" and an average target price of $2,817.22.

MercadoLibre Price Performance

NASDAQ MELI traded down $24.03 on Friday, hitting $2,452.34. 416,882 shares of the company's stock were exchanged, compared to its average volume of 367,642. The stock has a 50-day moving average of $2,382.11 and a 200-day moving average of $2,316.57. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The stock has a market cap of $124.33 billion, a price-to-earnings ratio of 60.57, a P/E/G ratio of 1.61 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its 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). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. During the same quarter in the previous year, the company earned $10.48 earnings per share. The firm's revenue for the quarter was up 33.8% on a year-over-year basis. Analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current 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.