Yahoo Finance MercadoLibre (MELI) Dips More Than Broader Markets: What You Should Know
MercadoLibre (MELI) closed the most recent trading day at $1,175.44, moving -0.99% from the previous trading session. This change lagged the S&P 500's 0.61% loss on the day. Meanwhile, the Dow lost 0.1%, and the Nasdaq, a tech-heavy index, lost 0.67%.
Prior to today's trading, shares of the operator of an online marketplace and payments system in Latin America had gained 35.92% over the past month. This has outpaced the Retail-Wholesale sector's gain of 10.67% and the S&P 500's gain of 8.32% in that time.
Wall Street will be looking for positivity from MercadoLibre as it approaches its next earnings report date. The company is expected to report EPS of $2.11, up 329.35% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.94 billion, up 38.08% from the prior-year quarter.
Investors might also notice 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 4.35% higher within the past month. MercadoLibre is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, MercadoLibre currently has a Forward P/E ratio of 80.15. This valuation marks a premium compared to its industry's average Forward P/E of 21.6.
The Internet - Commerce industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 34, which puts it in the top 14% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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MercadoLibre, Inc. (MELI) : Free Stock Analysis Report
