FY2024 Earnings Forecast for MercadoLibre Issued By Wedbush

MercadoLibre, Inc. (NASDAQ:MELI) – Stock analysts at Wedbush reduced their FY2024 earnings per share estimates for MercadoLibre in a report issued on Monday, January 6th. Wedbush analyst S. Devitt now expects that the company will post earnings of $31.90 per share for the year, down from their prior estimate of $32.25. Wedbush has a “Outperform” rating and a $2,100.00 price objective on the stock. The consensus estimate for MercadoLibre’s current full-year earnings is $33.70 per share. Wedbush also issued estimates for MercadoLibre’s Q4 2024 earnings at $6.81 EPS, Q3 2025 earnings at $9.85 EPS and FY2025 earnings at $38.44 EPS.

A number of other research firms also recently issued reports on MELI. Raymond James began coverage on MercadoLibre in a report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price objective for the company. Citigroup lowered their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Bank of America increased their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. BTIG Research lowered their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Finally, Morgan Stanley reduced their price objective on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $2,261.00.

MercadoLibre Price Performance

MELI stock opened at $1,799.42 on Tuesday. The stock has a 50-day moving average price of $1,894.45 and a two-hundred day moving average price of $1,897.55. MercadoLibre has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. The stock has a market cap of $91.23 billion, a PE ratio of 63.49, a price-to-earnings-growth ratio of 1.24 and a beta of 1.60. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

Hedge Funds Weigh In On MercadoLibre

Large investors have recently made changes to their positions in the company. Rhumbline Advisers lifted its holdings in shares of MercadoLibre by 4.2% during the second quarter. Rhumbline Advisers now owns 10,723 shares of the company’s stock worth $17,622,000 after buying an additional 430 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in MercadoLibre by 0.7% in the 2nd quarter. Victory Capital Management Inc. now owns 24,214 shares of the company’s stock valued at $39,793,000 after purchasing an additional 176 shares during the period. Private Advisor Group LLC grew its position in shares of MercadoLibre by 75.5% during the 2nd quarter. Private Advisor Group LLC now owns 972 shares of the company’s stock worth $1,597,000 after purchasing an additional 418 shares in the last quarter. Savant Capital LLC increased its holdings in shares of MercadoLibre by 13.5% during the second quarter. Savant Capital LLC now owns 295 shares of the company’s stock worth $485,000 after purchasing an additional 35 shares during the period. Finally, Los Angeles Capital Management LLC raised its position in shares of MercadoLibre by 51.2% in the second quarter. Los Angeles Capital Management LLC now owns 4,296 shares of the company’s stock valued at $7,060,000 after buying an additional 1,455 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Insiders Place Their Bets

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the completion of the sale, the director now directly owns 238 shares in the company, valued at $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.06% of the company’s stock.

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.