FY2024 Earnings Estimate for MercadoLibre Issued By Wedbush

MercadoLibre, Inc. (NASDAQ:MELI) – Equities researchers at Wedbush cut their FY2024 earnings per share estimates for shares of MercadoLibre in a research note issued to investors on Thursday, November 7th. Wedbush analyst S. Devitt now expects that the company will post earnings of $32.25 per share for the year, down from their previous estimate of $38.24. Wedbush has a “Outperform” rating and a $2,200.00 price objective on the stock. The consensus estimate for MercadoLibre’s current full-year earnings is $35.49 per share. Wedbush also issued estimates for MercadoLibre’s Q4 2024 earnings at $7.16 EPS, Q1 2025 earnings at $7.29 EPS, Q2 2025 earnings at $10.09 EPS, Q3 2025 earnings at $10.55 EPS, Q4 2025 earnings at $11.44 EPS, FY2025 earnings at $39.37 EPS and FY2026 earnings at $50.29 EPS.

Several other research analysts have also recently commented on MELI. Bank of America increased their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Barclays boosted their target price on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Redburn Atlantic started coverage on MercadoLibre in a report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target for the company. Susquehanna lifted their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. Finally, Raymond James assumed coverage on MercadoLibre in a research report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $2,306.33.

MercadoLibre Trading Up 4.8 %

MercadoLibre stock opened at $1,961.16 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. The firm has a 50-day moving average of $2,046.45 and a 200-day moving average of $1,828.74. The company has a market cap of $99.43 billion, a price-to-earnings ratio of 68.94, a P/E/G ratio of 1.15 and a beta of 1.61. MercadoLibre has a one year low of $1,324.99 and a one year high of $2,161.73.

Institutional Investors Weigh In On MercadoLibre

A number of large investors have recently bought and sold shares of MELI. GQG Partners LLC lifted its holdings in shares of MercadoLibre by 442.2% during the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after acquiring an additional 648,198 shares during the period. International Assets Investment Management LLC increased its stake in shares of MercadoLibre by 205,108.3% in the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after purchasing an additional 248,181 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of MercadoLibre by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after buying an additional 232,787 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in MercadoLibre in the second quarter valued at about $2,913,000. Finally, Janus Henderson Group PLC boosted its stake in MercadoLibre by 55.8% in the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after buying an additional 132,028 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

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.