$595.49 Million in Sales Expected for Mercadolibre Inc (NASDAQ:MELI) This Quarter

Wall Street analysts forecast that Mercadolibre Inc (NASDAQ:MELI) will announce sales of $595.49 million for the current quarter, Zacks reports. Four analysts have issued estimates for Mercadolibre’s earnings. The highest sales estimate is $612.27 million and the lowest is $558.00 million. Mercadolibre reported sales of $355.28 million in the same quarter last year, which would suggest a positive year over year growth rate of 67.6%. The business is scheduled to announce its next quarterly earnings report on Thursday, November 7th.

On average, analysts expect that Mercadolibre will report full-year sales of $2.28 billion for the current fiscal year, with estimates ranging from $2.22 billion to $2.32 billion. For the next year, analysts forecast that the firm will report sales of $3.13 billion, with estimates ranging from $2.93 billion to $3.43 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Mercadolibre.

Mercadolibre (NASDAQ:MELI) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.03. Mercadolibre had a return on equity of 1.24% and a net margin of 0.87%. The firm had revenue of $545.24 million during the quarter, compared to analyst estimates of $507.68 million. During the same period in the prior year, the company posted ($0.25) earnings per share. The business’s revenue for the quarter was up 62.6% compared to the same quarter last year.

A number of analysts have recently weighed in on the company. Zacks Investment Research upgraded Mercadolibre from a “hold” rating to a “buy” rating and set a $608.00 target price for the company in a research note on Friday, May 10th. JPMorgan Chase & Co. upgraded Mercadolibre from a “neutral” rating to an “overweight” rating and raised their target price for the company from $563.00 to $750.00 in a research note on Tuesday, August 13th. Credit Suisse Group raised their target price on Mercadolibre from $640.00 to $710.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. They noted that the move was a valuation call. BidaskClub cut Mercadolibre from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Finally, Barclays raised their price target on Mercadolibre from $615.00 to $730.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $620.63.

A number of institutional investors have recently bought and sold shares of the stock. Invesco Ltd. boosted its holdings in Mercadolibre by 112.9% during the second quarter. Invesco Ltd. now owns 1,020,646 shares of the company’s stock worth $624,402,000 after buying an additional 541,277 shares during the last quarter. FMR LLC raised its holdings in shares of Mercadolibre by 24.8% during the 1st quarter. FMR LLC now owns 1,270,693 shares of the company’s stock worth $645,170,000 after buying an additional 252,698 shares in the last quarter. Viking Global Investors LP raised its holdings in shares of Mercadolibre by 39.7% during the 2nd quarter. Viking Global Investors LP now owns 854,831 shares of the company’s stock worth $522,960,000 after buying an additional 242,962 shares in the last quarter. Whale Rock Capital Management LLC raised its holdings in shares of Mercadolibre by 146.1% during the 2nd quarter. Whale Rock Capital Management LLC now owns 186,912 shares of the company’s stock worth $114,347,000 after buying an additional 110,960 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Mercadolibre by 74.4% during the 2nd quarter. Bank of America Corp DE now owns 250,328 shares of the company’s stock worth $153,144,000 after buying an additional 106,832 shares in the last quarter. Institutional investors and hedge funds own 83.37% of the company’s stock.

Mercadolibre stock traded down $10.43 during mid-day trading on Thursday, hitting $619.40. 259,868 shares of the company were exchanged, compared to its average volume of 605,310. The company has a quick ratio of 2.53, a current ratio of 2.54 and a debt-to-equity ratio of 0.36. The business has a fifty day moving average of $634.48 and a 200 day moving average of $541.87. Mercadolibre has a 1-year low of $257.52 and a 1-year high of $698.98. The company has a market capitalization of $29.99 billion, a PE ratio of -755.37 and a beta of 1.76.

About Mercadolibre

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.

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Earnings History and Estimates for Mercadolibre (NASDAQ:MELI)

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