Smith Salley Wealth Management Purchases 102 Shares of MercadoLibre, Inc. $MELI

Key Points

• Smith Salley Wealth Management increased its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 6.7% during the second quarter, now holding 1,633 shares valued at approximately $4.27 million.
• MercadoLibre recently reported earnings of $10.31 per share for the quarter, which missed the expected $12.01, despite revenue increasing by 33.8% year-over-year to $6.79 billion.
• Analysts maintain a mostly positive outlook, with one Strong Buy, fourteen Buy ratings, and an average target price of $2,828.33 for MercadoLibre shares.

Smith Salley Wealth Management grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 6.7% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 1,633 shares of the company's stock after acquiring an additional 102 shares during the quarter. Smith Salley Wealth Management's holdings in MercadoLibre were worth $4,268,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tritonpoint Wealth LLC bought a new position in shares of MercadoLibre during the second quarter valued at $233,000. Ariose Capital Management Ltd purchased a new stake in MercadoLibre during the second quarter worth about $13,068,000. TRU Independence Asset Management 2 LLC purchased a new stake in MercadoLibre during the 2nd quarter valued at approximately $1,210,000. Twelve Points Wealth Management LLC boosted its holdings in shares of MercadoLibre by 14.0% during the second quarter. Twelve Points Wealth Management LLC now owns 301 shares of the company's stock worth $787,000 after purchasing an additional 37 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of MercadoLibre by 26.8% during the second quarter. Signaturefd LLC now owns 326 shares of the company's stock worth $852,000 after purchasing an additional 69 shares during the last quarter. Institutional investors own 87.62% of the company's stock.

Analyst Ratings Changes

MELI has been the topic of a number of research reports. Barclays reduced 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 report on Wednesday, July 23rd. Scotiabank started coverage on shares of MercadoLibre in a research report on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 price objective on the stock. Jefferies Financial Group restated a "hold" rating and issued a $2,800.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. JPMorgan Chase & Co. boosted their target price on shares of MercadoLibre from $2,600.00 to $2,700.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $2,750.00 price target on shares of MercadoLibre in a 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 assigned a Hold rating to the stock. Based on data from MarketBeat, MercadoLibre currently has an average rating of "Moderate Buy" and an average target price of $2,828.33.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,468.42 on Friday. 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 12 month low of $1,646.00 and a 12 month high of $2,645.22. The firm has a market capitalization of $125.15 billion, a P/E ratio of 60.96, a price-to-earnings-growth ratio of 1.61 and a beta of 1.49. The business's fifty day simple moving average is $2,391.84 and its 200 day simple moving average is $2,334.88.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) 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 analysts' expectations of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The company's revenue for the quarter was up 33.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $10.48 EPS. As a group, analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

About MercadoLibre

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.

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