What is Wedbush's Estimate for MercadoLibre FY2024 Earnings?

MercadoLibre, Inc. (NASDAQ:MELI - Free Report) - Investment analysts at Wedbush decreased their FY2024 earnings per share estimates for MercadoLibre in a research report issued on Monday, January 6th. Wedbush analyst S. Devitt now expects that the company will post earnings per share of $31.90 for the year, down from their prior estimate 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.

Several other brokerages also recently commented on MELI. Raymond James initiated coverage on shares of MercadoLibre in a research report on Friday, September 27th. They issued an "outperform" rating and a $2,350.00 price target for the company. Cantor Fitzgerald lowered their price target on MercadoLibre from $2,530.00 to $2,300.00 and set an "overweight" rating on the stock in a report on Thursday, November 7th. Barclays reduced their price objective 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. Morgan Stanley lowered their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating on the stock in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. reduced their price target on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a "neutral" rating for the company in a research report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $2,261.00.

MercadoLibre Trading Down 1.6 %

NASDAQ MELI traded down $28.20 on Tuesday, hitting $1,771.22. 307,435 shares of the company were exchanged, compared to its average volume of 396,222. MercadoLibre has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The company's 50 day moving average price is $1,894.45 and its 200-day moving average price is $1,897.55. The firm has a market capitalization of $89.80 billion, a P/E ratio of 62.50, a price-to-earnings-growth ratio of 1.24 and a beta of 1.60. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

Insider Buying and Selling

In other MercadoLibre 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 completion of the transaction, the director now owns 238 shares of the company's stock, 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 Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.06% of the company's stock.

Hedge Funds Weigh In On MercadoLibre

Institutional investors have recently made changes to their positions in the business. Optimum Investment Advisors increased its position in MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company's stock worth $35,000 after buying an additional 15 shares during the period. Quarry LP bought a new position in MercadoLibre during the second quarter worth $43,000. Legacy Bridge LLC raised its stake in MercadoLibre by 53.3% during the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company's stock valued at $47,000 after purchasing an additional 8 shares during the last quarter. GAMMA Investing LLC boosted its holdings in MercadoLibre by 123.1% in the 4th 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, NBC Securities Inc. grew its position in MercadoLibre by 35.0% in the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company's stock worth $55,000 after purchasing an additional 7 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

About MercadoLibre

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.