What is Wedbush’s Forecast for MercadoLibre FY2024 Earnings?

MercadoLibre, Inc. (NASDAQ:MELI) – Equities research analysts at Wedbush dropped their FY2024 EPS estimates for shares of MercadoLibre in a note issued to investors on Monday, January 6th. Wedbush analyst S. Devitt now forecasts that the company will post earnings of $31.90 per share for the year, down from their previous estimate of $32.25. Wedbush currently has a “Outperform” rating and a $2,100.00 target price 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 topic of several other research reports. Citigroup decreased their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Bank of America boosted their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. reduced their price target on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. Redburn Atlantic initiated coverage on shares of MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective for the company. Finally, Cantor Fitzgerald cut their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. 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 has a consensus rating of “Moderate Buy” and an average price target of $2,261.00.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $1,799.42 on Tuesday. The company’s 50 day simple moving average is $1,894.45 and its 200 day simple moving average is $1,897.55. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. The stock has a market capitalization of $91.23 billion, a price-to-earnings ratio of 63.49, a price-to-earnings-growth ratio of 1.24 and a beta of 1.60.

Insider Activity

In other news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 238 shares of the company’s stock, valued at approximately $472,425.24. This represents a 17.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.06% of the company’s stock.

Institutional Trading of MercadoLibre

Institutional investors have recently bought and sold shares of the company. Optimum Investment Advisors lifted its position in shares of MercadoLibre by 750.0% during the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after acquiring an additional 15 shares during the period. Quarry LP acquired a new stake in MercadoLibre in the second quarter valued at approximately $43,000. Legacy Bridge LLC increased its holdings in shares of MercadoLibre by 53.3% during the third quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after acquiring an additional 8 shares in the last quarter. GAMMA Investing LLC raised its position in shares of MercadoLibre by 123.1% during the fourth 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. Finally, NBC Securities Inc. lifted its holdings 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 in the last quarter. Institutional investors own 87.62% of the company’s stock.

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.