Cantor Fitzgerald Raises Earnings Estimates for MercadoLibre

MercadoLibre, Inc. (NASDAQ:MELI) – Equities researchers at Cantor Fitzgerald increased their FY2024 earnings estimates for shares of MercadoLibre in a report issued on Tuesday, January 7th. Cantor Fitzgerald analyst D. Mathivanan now anticipates that the company will post earnings of $33.30 per share for the year, up from their previous forecast 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 stock. Barclays decreased 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 note on Tuesday, November 12th. JPMorgan Chase & Co. reduced their target price on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a report on Wednesday. Citigroup reduced their target price on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Redburn Atlantic assumed coverage on shares of MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price on the stock. Finally, Morgan Stanley reduced their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Three 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2,247.67.

MercadoLibre Stock Up 1.1 %

Shares of MELI stock opened at $1,758.77 on Thursday. The stock has a market cap of $89.16 billion, a P/E ratio of 62.06, a PEG ratio of 1.24 and a beta of 1.60. MercadoLibre has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The company’s fifty day simple moving average is $1,871.83 and its two-hundred day simple moving average is $1,897.76.

Insiders Place Their Bets

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the company’s 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 in the company, valued at $472,425.24. This represents a 17.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On MercadoLibre

Hedge funds have recently modified their holdings of the business. Optimum Investment Advisors lifted its position in shares of MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after purchasing an additional 15 shares during the period. Legacy Bridge LLC lifted its position in shares of MercadoLibre by 53.3% in the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock worth $47,000 after purchasing an additional 8 shares during the period. Quarry LP purchased a new stake in shares of MercadoLibre in the 2nd quarter worth approximately $43,000. NBC Securities Inc. lifted its position in shares of 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 period. Finally, GAMMA Investing LLC lifted its position in shares of MercadoLibre by 123.1% in the 4th quarter. GAMMA Investing LLC now owns 29 shares of the company’s stock worth $49,000 after purchasing an additional 16 shares during the period. 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.