MercadoLibre, Inc. Reports Third Quarter 2024 Financial Results
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MercadoLibre (MELI) PT Lowered to $2,200 at BTIG
November 7, 2024 5:45 AM ESTBTIG analyst Marvin Fong lowered the price target on MercadoLibre (NASDAQ: MELI) to $2,200.00 (from $2,250.00) while maintaining a Buy rating.
The analyst comments "Despite largely healthy topline performance, MELI shares traded down 9% in the aftermarket as the company's earnings report wasn't as robust as investors have grown accustomed to. GMV and TPV were both shy of the Street (although we wonder if Street models properly adjusted for FX given some estimates hadn't been updated since August). Specifically, GMV was $12.9B vs. consensus of $13.0B while TPV was $50.7B vs. the Street's $52.0B. The most glaring... More
Barclays Reiterates Overweight Rating on MercadoLibre (MELI)
November 7, 2024 5:43 AM ESTBarclays analyst Trevor Young reiterated an Overweight rating and $2,500.00 price target on MercadoLibre (NASDAQ: MELI).
The analyst comments "The Key Takeaway: Third quarter GMV and TPV were 1% and 2% below consensus, respectively, and while revenues still came in a tad ahead, GM pressure from 1P product mix and six new FCs ramping (more than we had contemplated) and unfavorable NIMAL mix from higher growth credit cards resulted in GAAP OI that... More
