Wedbush Has Bearish Outlook for MercadoLibre FY2024 Earnings

MercadoLibre, Inc. (NASDAQ:MELI) – Analysts at Wedbush decreased their FY2024 EPS estimates for shares of MercadoLibre in a report issued on Thursday, November 7th. Wedbush analyst S. Devitt now anticipates that the company will post earnings of $32.25 per share for the year, down from their previous forecast of $38.24. Wedbush currently has a “Outperform” rating and a $2,200.00 price target 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.

A number of other research firms have also recently weighed in on MELI. Susquehanna upped their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. BTIG Research decreased their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research report on Thursday. Bank of America lifted their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Raymond James assumed coverage on shares of MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price objective for the company. Finally, Barclays lifted their target price on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $2,309.67.

MercadoLibre Trading Up 5.5 %

Shares of MercadoLibre stock opened at $1,872.01 on Monday. MercadoLibre has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The company has a market cap of $94.91 billion, a P/E ratio of 66.06, a price-to-earnings-growth ratio of 1.15 and a beta of 1.61. The firm has a 50-day simple moving average of $2,046.45 and a two-hundred day simple moving average of $1,825.54.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Jennison Associates LLC increased its position in MercadoLibre by 3.9% during the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after purchasing an additional 70,154 shares during the last quarter. Capital World Investors increased its holdings in shares of MercadoLibre by 12.7% during the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock worth $1,278,738,000 after buying an additional 95,029 shares during the last quarter. GQG Partners LLC raised its position in shares of MercadoLibre by 442.2% during the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after buying an additional 648,198 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in MercadoLibre by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after acquiring an additional 232,787 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in MercadoLibre by 55.8% during the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after acquiring an additional 132,028 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

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.