FY2024 Earnings Forecast for MercadoLibre Issued By Wedbush

MercadoLibre, Inc. (NASDAQ:MELI) – Wedbush decreased their FY2024 earnings per share (EPS) estimates for shares of MercadoLibre in a research note issued to investors on Monday, January 6th. Wedbush analyst S. Devitt now forecasts that the company will post earnings per share of $31.90 for the year, down from their previous forecast of $32.25. Wedbush currently has a “Outperform” rating and a $2,100.00 target price 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.

MELI has been the topic of several other research reports. Redburn Atlantic assumed coverage on shares of MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective on the stock. Citigroup dropped their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Barclays lowered their price target 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. Raymond James initiated coverage on shares of MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price objective on the stock. Finally, Bank of America increased their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Three equities research 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.com, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus price target of $2,261.00.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $1,771.22 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. The business has a fifty day simple moving average of $1,889.35 and a 200-day simple moving average of $1,898.75. The stock has a market cap of $89.80 billion, a PE ratio of 62.50, a price-to-earnings-growth ratio of 1.24 and a beta of 1.60.

Hedge Funds Weigh In On MercadoLibre

A number of hedge funds have recently added to or reduced their stakes in the stock. Optimum Investment Advisors lifted its stake in MercadoLibre by 750.0% during the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after purchasing an additional 15 shares during the last quarter. Quarry LP bought a new position in MercadoLibre in the second quarter valued at about $43,000. Legacy Bridge LLC raised its stake in MercadoLibre by 53.3% during the third quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock worth $47,000 after acquiring an additional 8 shares in the last quarter. GAMMA Investing LLC increased its position in MercadoLibre by 123.1% during the 4th quarter. GAMMA Investing LLC now owns 29 shares of the company’s stock worth $49,000 after purchasing an additional 16 shares in the last quarter. Finally, NBC Securities Inc. increased its holdings in shares of MercadoLibre by 35.0% during the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after buying an additional 7 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Insider Buying and Selling at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value of $99,249.00. Following the transaction, the director now owns 238 shares of the company’s stock, valued at approximately $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.