MercadoLibre FY2024 EPS Forecast Lifted by Cantor Fitzgerald

MercadoLibre, Inc. (NASDAQ:MELI) – Equities researchers at Cantor Fitzgerald lifted their FY2024 EPS estimates for shares of MercadoLibre in a research note issued on Tuesday, January 7th. Cantor Fitzgerald analyst D. Mathivanan now forecasts that the company will earn $33.30 per share for the year, up from their prior forecast of $33.14. Cantor Fitzgerald has a “Overweight” rating and a $2,300.00 price target on the stock. The consensus estimate for MercadoLibre’s current full-year earnings is $33.70 per share.

MELI has been the subject of a number of other reports. Citigroup decreased their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Barclays decreased their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. BTIG Research dropped 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 report on Thursday, November 7th. Wedbush reduced their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research report on Monday. Finally, Morgan Stanley dropped their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,247.67.

MercadoLibre Trading Down 1.8 %

MercadoLibre stock opened at $1,739.00 on Thursday. MercadoLibre has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The stock has a market capitalization of $88.16 billion, a PE ratio of 61.36, a price-to-earnings-growth ratio of 1.24 and a beta of 1.60. The firm has a 50 day simple moving average of $1,877.75 and a 200-day simple moving average of $1,896.53. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

Insiders Place Their Bets

In other news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 238 shares in the company, valued at $472,425.24. The trade was a 17.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.06% of the company’s stock.

Institutional Trading of MercadoLibre

Institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new position in MercadoLibre in the third quarter worth approximately $114,417,000. Principal Financial Group Inc. lifted its stake in shares of MercadoLibre by 20.9% in the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock valued at $121,948,000 after purchasing an additional 10,272 shares during the last quarter. KBC Group NV boosted its holdings in MercadoLibre by 205.5% in the third quarter. KBC Group NV now owns 26,279 shares of the company’s stock worth $53,923,000 after purchasing an additional 17,677 shares in the last quarter. Y Intercept Hong Kong Ltd increased its position in MercadoLibre by 40.0% during the third quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock worth $5,598,000 after buying an additional 780 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of MercadoLibre by 37.8% in the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock worth $271,897,000 after buying an additional 43,215 shares during the last quarter. Institutional investors and hedge funds own 87.62% 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.