MercadoLibre, Inc. (NASDAQ:MELI – Get Rating) – Research analysts at Zacks Research cut their Q2 2023 EPS estimates for shares of MercadoLibre in a research report issued to clients and investors on Wednesday, December 21st. Zacks Research analyst S. Nag now forecasts that the company will post earnings per share of $3.48 for the quarter, down from their prior forecast of $3.50. The consensus estimate for MercadoLibre’s current full-year earnings is $8.20 per share. Zacks Research also issued estimates for MercadoLibre’s Q1 2024 earnings at $3.57 EPS.
MELI has been the subject of several other reports. Credit Suisse Group decreased their price objective on shares of MercadoLibre from $1,470.00 to $1,400.00 and set an “outperform” rating for the company in a research note on Monday, October 31st. StockNews.com initiated coverage on shares of MercadoLibre in a report on Wednesday, October 12th. They set a “hold” rating for the company. Jefferies Financial Group cut their target price on shares of MercadoLibre from $990.00 to $970.00 and set a “hold” rating for the company in a report on Thursday, October 6th. Finally, Citigroup lifted their target price on shares of MercadoLibre from $1,050.00 to $1,100.00 in a report on Friday. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average target price of $1,322.00.
MercadoLibre Stock Performance
Shares of NASDAQ MELI opened at $878.32 on Monday. The company has a current ratio of 1.34, a quick ratio of 1.31 and a debt-to-equity ratio of 1.68. MercadoLibre has a 12 month low of $600.68 and a 12 month high of $1,365.97. The company has a 50 day simple moving average of $899.19 and a two-hundred day simple moving average of $851.11. The stock has a market cap of $44.18 billion, a price-to-earnings ratio of 163.56 and a beta of 1.53.
MercadoLibre (NASDAQ:MELI – Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $2.56 EPS for the quarter, beating the consensus estimate of $2.31 by $0.25. MercadoLibre had a net margin of 2.80% and a return on equity of 17.11%. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same period in the previous year, the business posted $1.92 EPS. The business’s quarterly revenue was up 41.6% compared to the same quarter last year.
Institutional Investors Weigh In On MercadoLibre
Several institutional investors and hedge funds have recently added to or reduced their stakes in MELI. FinTrust Capital Advisors LLC boosted its stake in MercadoLibre by 120.0% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 33 shares of the company’s stock worth $25,000 after purchasing an additional 18 shares during the last quarter. Amalgamated Bank boosted its stake in MercadoLibre by 93.8% during the 3rd quarter. Amalgamated Bank now owns 31 shares of the company’s stock worth $26,000 after purchasing an additional 15 shares during the last quarter. Huntington National Bank boosted its stake in MercadoLibre by 45.8% during the 3rd quarter. Huntington National Bank now owns 35 shares of the company’s stock worth $29,000 after purchasing an additional 11 shares during the last quarter. Atlas Capital Advisors LLC boosted its stake in MercadoLibre by 414.3% during the 3rd quarter. Atlas Capital Advisors LLC now owns 36 shares of the company’s stock worth $30,000 after purchasing an additional 29 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group acquired a new stake in MercadoLibre during the 2nd quarter worth $31,000. Hedge funds and other institutional investors own 80.49% of the company’s stock.
MercadoLibre Company Profile
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 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.
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