What is Wedbush’s Forecast for MercadoLibre FY2024 Earnings?

MercadoLibre, Inc. (NASDAQ:MELI) – Wedbush reduced their FY2024 earnings per share (EPS) estimates for shares of MercadoLibre in a research note issued on Monday, January 6th. Wedbush analyst S. Devitt now anticipates that the company will post earnings of $31.90 per share for the year, down from their previous estimate of $32.25. Wedbush has a “Outperform” rating and a $2,100.00 price objective 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.

MELI has been the subject of a number of other research reports. Barclays lowered their target price on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. JPMorgan Chase & Co. dropped their price objective on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a report on Wednesday. Redburn Atlantic started coverage on MercadoLibre in a report on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price on the stock. Citigroup lowered their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Finally, Raymond James started coverage on shares of MercadoLibre in a research note on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2,247.67.

MercadoLibre Stock Down 1.8 %

Shares of NASDAQ:MELI opened at $1,739.00 on Tuesday. The company has a 50 day moving average of $1,883.71 and a 200-day moving average of $1,897.64. MercadoLibre has a one year low of $1,324.99 and a one year high of $2,161.73. The stock has a market cap of $88.16 billion, a price-to-earnings ratio of 61.36, a P/E/G 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.

Institutional Investors Weigh In On MercadoLibre

Hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC boosted its position in shares of MercadoLibre by 205,108.3% in the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after acquiring an additional 248,181 shares during the period. Strategic Financial Concepts LLC bought a new position in shares of MercadoLibre during the second quarter worth approximately $2,913,000. FMR LLC raised its position in shares of MercadoLibre by 18.6% in the third quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after buying an additional 137,564 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of MercadoLibre by 52.9% in the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after buying an additional 120,922 shares during the period. Finally, Swedbank AB grew its position in MercadoLibre by 352.8% during the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after buying an additional 73,336 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions 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 value of $99,249.00. Following the transaction, the director now directly owns 238 shares of the company’s stock, valued at $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is currently owned by corporate insiders.

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.