MercadoLibre FY2024 EPS Estimate Lifted by Cantor Fitzgerald

MercadoLibre, Inc. (NASDAQ:MELI) – Cantor Fitzgerald increased their FY2024 EPS estimates for shares of MercadoLibre in a report released on Tuesday, January 7th. Cantor Fitzgerald analyst D. Mathivanan now anticipates that the company will post earnings per share of $33.30 for the year, up from their previous forecast of $33.14. Cantor Fitzgerald has a “Overweight” rating and a $2,300.00 price target on the stock. The consensus estimate for MercadoLibre’s current full-year earnings is $33.70 per share.

MELI has been the topic of a number of other research reports. Citigroup decreased their price objective 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. JPMorgan Chase & Co. lowered their price target on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a report on Wednesday. Barclays dropped their price objective on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Raymond James assumed coverage on MercadoLibre in a research report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective on the stock. Finally, Redburn Atlantic started coverage on MercadoLibre in a research note on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2,247.67.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,739.00 on Thursday. The business’s fifty day moving average is $1,883.71 and its two-hundred day moving average is $1,897.64. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The firm has a market cap of $88.16 billion, a P/E ratio of 61.36, a P/E/G 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.

Institutional Investors Weigh In On MercadoLibre

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Private Advisor Group LLC increased its holdings in shares of MercadoLibre by 75.5% during the second quarter. Private Advisor Group LLC now owns 972 shares of the company’s stock worth $1,597,000 after purchasing an additional 418 shares during the period. Savant Capital LLC grew its holdings in shares of MercadoLibre by 13.5% during the 2nd quarter. Savant Capital LLC now owns 295 shares of the company’s stock worth $485,000 after purchasing an additional 35 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of MercadoLibre in the second quarter worth $1,023,000. Caprock Group LLC lifted its position in MercadoLibre by 143.7% during the second quarter. Caprock Group LLC now owns 580 shares of the company’s stock worth $955,000 after purchasing an additional 342 shares during the period. Finally, Quest Partners LLC increased its holdings in MercadoLibre by 128.8% in the 2nd quarter. Quest Partners LLC now owns 533 shares of the company’s stock valued at $876,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Insider Activity at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the firm’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 completion of the sale, the director now directly owns 238 shares in the company, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.06% of the stock is owned by company 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.