These Analysts Cut Their Forecasts On MercadoLibre Following Q3 Results

Benzinga Earnings11-05

MercadoLibre Inc (NASDAQ:MELI) on Wednesday reported mixed financial results after the third quarter.

Revenue came in at $10.75 billion, versus estimates of $10.66 billion. Earnings came in at $8.83 per share, versus estimates of $9.27 per share

"E-commerce penetration in Latin America is rising at the fastest pace since 2020, and at twice the pace of 2019 in percentage points added each year. This is a critical moment in the market’s development, and the engagement we capture now will define our scale and our leadership for years to come," the company said.

MercadoLibre shares fell 6.4% to $1,629.01 in pre-market trading

These analysts made changes to their price targets on MercadoLibre following earnings announcement.

  • BTIG analyst Marvin Fong maintained the stock with a Buy and lowered the price target from $2,150 to $2,050.
  • Cantor Fitzgerald analyst Deepak Mathivanan maintained the stock with an Overweight rating and cut the price target from $2,200 to $2,000.

Considering buying MELI stock? Here’s what analysts think:

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