Analysts Offer Predictions for MercadoLibre FY2024 Earnings

MercadoLibre, Inc. (NASDAQ:MELI) – Research analysts at Cantor Fitzgerald lifted their FY2024 earnings estimates for MercadoLibre in a report released on Tuesday, January 7th. Cantor Fitzgerald analyst D. Mathivanan now forecasts that the company will post earnings per share of $33.30 for the year, up from their previous estimate of $33.14. Cantor Fitzgerald currently 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.

A number of other research analysts have also recently weighed in on the company. JPMorgan Chase & Co. reduced their target price on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a report on Wednesday. Raymond James initiated coverage on MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective on the stock. Morgan Stanley dropped their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Redburn Atlantic initiated coverage on shares of MercadoLibre in a research note on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective for the company. Finally, Citigroup cut their target price on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2,247.67.

MercadoLibre Stock Down 1.8 %

Shares of MELI opened at $1,739.00 on Thursday. MercadoLibre has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The company’s fifty day moving average is $1,877.75 and its two-hundred day moving average is $1,896.53. The firm has a market cap 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 company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

Insider Buying and Selling at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction dated 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 owns 238 shares of the company’s stock, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.06% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MELI. Range Financial Group LLC bought a new stake in MercadoLibre in the fourth quarter valued at $296,000. CWA Asset Management Group LLC bought a new stake in MercadoLibre in the 4th quarter valued at about $4,623,000. Nordea Investment Management AB grew its position in MercadoLibre by 37.8% in the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock worth $271,897,000 after purchasing an additional 43,215 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of MercadoLibre by 123.1% in the fourth quarter. GAMMA Investing LLC now owns 29 shares of the company’s stock valued at $49,000 after purchasing an additional 16 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of MercadoLibre by 20.9% during the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock valued at $121,948,000 after buying an additional 10,272 shares during the last quarter. Institutional investors 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.