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MercadoLibre (MELI) Dips More Than Broader Markets: What You Should Know
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MercadoLibre (MELI - Free Report) closed at $1,070 in the latest trading session, marking a -1.19% move from the prior day. This move lagged the S&P 500's daily loss of 0.2%. Elsewhere, the Dow lost 1.14%, while the tech-heavy Nasdaq added 1.39%.
Coming into today, shares of the operator of an online marketplace and payments system in Latin America had gained 22.47% in the past month. In that same time, the Retail-Wholesale sector gained 8.12%, while the S&P 500 gained 4.01%.
Wall Street will be looking for positivity from MercadoLibre as it approaches its next earnings report date. In that report, analysts expect MercadoLibre to post earnings of $2.11 per share. This would mark year-over-year growth of 329.35%. Meanwhile, our latest consensus estimate is calling for revenue of $2.94 billion, up 38.08% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for MercadoLibre. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 4.35% higher. MercadoLibre is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that MercadoLibre has a Forward P/E ratio of 73.11 right now. Its industry sports an average Forward P/E of 21.53, so we one might conclude that MercadoLibre is trading at a premium comparatively.
The Internet - Commerce industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 53, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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MercadoLibre (MELI) Dips More Than Broader Markets: What You Should Know
MercadoLibre (MELI - Free Report) closed at $1,070 in the latest trading session, marking a -1.19% move from the prior day. This move lagged the S&P 500's daily loss of 0.2%. Elsewhere, the Dow lost 1.14%, while the tech-heavy Nasdaq added 1.39%.
Coming into today, shares of the operator of an online marketplace and payments system in Latin America had gained 22.47% in the past month. In that same time, the Retail-Wholesale sector gained 8.12%, while the S&P 500 gained 4.01%.
Wall Street will be looking for positivity from MercadoLibre as it approaches its next earnings report date. In that report, analysts expect MercadoLibre to post earnings of $2.11 per share. This would mark year-over-year growth of 329.35%. Meanwhile, our latest consensus estimate is calling for revenue of $2.94 billion, up 38.08% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for MercadoLibre. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 4.35% higher. MercadoLibre is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that MercadoLibre has a Forward P/E ratio of 73.11 right now. Its industry sports an average Forward P/E of 21.53, so we one might conclude that MercadoLibre is trading at a premium comparatively.
The Internet - Commerce industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 53, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.