$1.99 Billion in Sales Expected for MercadoLibre, Inc. (NASDAQ:MELI) This Quarter

Wall Street brokerages expect MercadoLibre, Inc. (NASDAQ:MELI – Get Rating) to report sales of $1.99 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for MercadoLibre’s earnings, with the highest sales estimate coming in at $2.08 billion and the lowest estimate coming in at $1.91 billion. MercadoLibre reported sales of $1.38 billion during the same quarter last year, which indicates a positive year over year growth rate of 44.2%. The firm is scheduled to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that MercadoLibre will report full-year sales of $9.69 billion for the current fiscal year, with estimates ranging from $9.36 billion to $10.49 billion. For the next financial year, analysts forecast that the business will post sales of $12.65 billion, with estimates ranging from $12.03 billion to $13.59 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for MercadoLibre.

MercadoLibre (NASDAQ:MELI – Get Rating) last released its quarterly earnings results on Tuesday, February 22nd. The company reported ($0.92) earnings per share for the quarter, missing the consensus estimate of $0.89 by ($1.81). MercadoLibre had a net margin of 1.18% and a return on equity of 31.09%. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the previous year, the business earned ($1.02) EPS. The business’s revenue was up 60.5% on a year-over-year basis.

MELI has been the topic of several research analyst reports. Citigroup reduced their target price on MercadoLibre from $1,750.00 to $1,500.00 and set a “buy” rating on the stock in a research note on Tuesday. Bradesco Corretora raised MercadoLibre from a “neutral” rating to an “outperform” rating in a research report on Friday, February 25th. TheStreet lowered MercadoLibre from a “c” rating to a “d+” rating in a research report on Wednesday, February 23rd. Stifel Nicolaus dropped their price target on MercadoLibre from $1,600.00 to $1,400.00 and set a “buy” rating on the stock in a research report on Wednesday, February 23rd. Finally, Susquehanna lowered their price target on shares of MercadoLibre from $1,990.00 to $1,750.00 and set a “positive” rating for the company in a research report on Wednesday, February 23rd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $1,690.92.

Shares of MercadoLibre stock opened at $1,135.75 on Thursday. The stock has a market capitalization of $57.26 billion, a price-to-earnings ratio of 672.05 and a beta of 1.51. MercadoLibre has a 52-week low of $858.99 and a 52-week high of $1,970.13. The company has a fifty day moving average of $1,096.88 and a 200-day moving average of $1,253.69. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.36 and a current ratio of 1.40.

In related news, VP La Serna Juan Martin De bought 50 shares of the company’s stock in a transaction that occurred on Friday, March 11th. The shares were bought at an average price of $931.00 per share, for a total transaction of $46,550.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Marcelo Melamud bought 55 shares of the business’s stock in a transaction on Monday, March 14th. The stock was bought at an average cost of $881.82 per share, with a total value of $48,500.10. The disclosure for this purchase can be found here. In the last three months, insiders acquired 205 shares of company stock valued at $188,950. Corporate insiders own 0.39% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Amundi Pioneer Asset Management Inc. grew its stake in shares of MercadoLibre by 30.5% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 14,496 shares of the company’s stock valued at $7,361,000 after purchasing an additional 3,392 shares during the period. Wolff Wiese Magana LLC purchased a new position in shares of MercadoLibre in the third quarter worth approximately $45,000. Jag Capital Management LLC boosted its holdings in shares of MercadoLibre by 7.2% in the third quarter. Jag Capital Management LLC now owns 149 shares of the company’s stock worth $250,000 after buying an additional 10 shares during the last quarter. J.W. Cole Advisors Inc. bought a new stake in MercadoLibre during the third quarter valued at approximately $245,000. Finally, Somerset Capital Management LLP increased its holdings in MercadoLibre by 4.0% during the third quarter. Somerset Capital Management LLP now owns 5,200 shares of the company’s stock valued at $8,774,000 after buying an additional 200 shares during the last quarter. 77.18% of the stock is owned by institutional investors.

About MercadoLibre (Get Rating)

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; and Mercado Pago FinTech, 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.

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