Cantor Fitzgerald Boosts Earnings Estimates for MercadoLibre

MercadoLibre, Inc. (NASDAQ:MELI - Free Report) - Investment analysts at Cantor Fitzgerald increased their FY2024 earnings per share (EPS) estimates for MercadoLibre in a research report issued to clients and investors on Tuesday, January 7th. Cantor Fitzgerald analyst D. Mathivanan now anticipates that the company will earn $33.30 per share for the year, up from their prior estimate of $33.14. Cantor Fitzgerald has a "Overweight" rating and a $2,300.00 price objective on the stock. The consensus estimate for MercadoLibre's current full-year earnings is $33.70 per share.

Several other analysts have also recently commented on the company. Bank of America boosted their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a "buy" rating in a research report on Thursday, September 12th. 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 report on Monday, November 11th. JPMorgan Chase & Co. reduced their target price on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a "neutral" rating for the company in a research report on Wednesday. Barclays lowered their price target on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 12th. Finally, Raymond James began coverage on shares of MercadoLibre in a report on Friday, September 27th. They issued an "outperform" rating and a $2,350.00 price objective for the company. Three 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's stock. According to MarketBeat, MercadoLibre currently has an average rating of "Moderate Buy" and a consensus price target of $2,247.67.

MercadoLibre Price Performance

NASDAQ:MELI traded down $32.22 during trading hours on Thursday, hitting $1,739.00. 388,317 shares of the stock were exchanged, compared to its average volume of 394,657. The company has a market cap of $88.16 billion, a P/E ratio of 61.36, a P/E/G ratio of 1.24 and a beta of 1.60. The firm's fifty day moving average price is $1,877.75 and its 200 day moving average price is $1,896.53. MercadoLibre has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. 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

Hedge funds have recently bought and sold shares of the company. Optimum Investment Advisors grew its position in MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company's stock valued at $35,000 after acquiring an additional 15 shares in the last quarter. Legacy Bridge LLC grew its holdings in shares of MercadoLibre by 53.3% in the third quarter. Legacy Bridge LLC now owns 23 shares of the company's stock valued at $47,000 after purchasing an additional 8 shares in the last quarter. Quarry LP acquired a new position in shares of MercadoLibre in the second quarter valued at approximately $43,000. NBC Securities Inc. increased its stake in MercadoLibre by 35.0% during the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company's stock worth $55,000 after buying an additional 7 shares during the period. Finally, GAMMA Investing LLC lifted its holdings 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 buying an additional 16 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

Insider Transactions at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the company's stock in a transaction on Friday, November 29th. The stock was 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. 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 is available at the SEC website. 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.