MercadoLibre (MELI) closed the most recent trading day at $2,009.34, moving -1.76% from the previous trading session. This change lagged the S&P 500's 0.55% gain on the day. At the same time, the Dow added 0.52%, and the tech-heavy Nasdaq gained 0.7%.

Shares of the operator of an online marketplace and payments system in Latin America witnessed a gain of 1.61% over the previous month, beating the performance of the Retail-Wholesale sector with its loss of 7.03% and the S&P 500's loss of 5.56%.

Analysts and investors alike will be keeping a close eye on the performance of MercadoLibre in its upcoming earnings disclosure. In that report, analysts expect MercadoLibre to post earnings of $7.82 per share. This would mark year-over-year growth of 15.34%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.5 billion, up 27% from the year-ago period.

For the full year, the Zacks Consensus Estimates are projecting earnings of $47.50 per share and revenue of $25.89 billion, which would represent changes of +26.03% and +24.59%, respectively, from the prior year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for MercadoLibre. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

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 shifted 8.06% upward. At present, MercadoLibre boasts a Zacks Rank of #2 (Buy).

Valuation is also important, so investors should note that MercadoLibre has a Forward P/E ratio of 43.06 right now. This signifies a premium in comparison to the average Forward P/E of 21.95 for its industry.

Also, we should mention that MELI has a PEG ratio of 1.15. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Internet - Commerce was holding an average PEG ratio of 1.15 at yesterday's closing price.

The Internet - Commerce industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 65, positioning it in the top 26% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

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MercadoLibre, Inc. (MELI) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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