In the latest trading session, MercadoLibre (MELI) closed at $1,908.90, marking a -0.69% move from the previous day. This change was narrower than the S&P 500's 0.76% loss on the day. Meanwhile, the Dow experienced a drop of 0.28%, and the technology-dominated Nasdaq saw a decrease of 1.2%.

Heading into today, shares of the operator of an online marketplace and payments system in Latin America had gained 4.8% over the past month, lagging the Retail-Wholesale sector's gain of 7.49% and outpacing the S&P 500's gain of 2.71% in that time.

Analysts and investors alike will be keeping a close eye on the performance of MercadoLibre in its upcoming earnings disclosure. On that day, MercadoLibre is projected to report earnings of $7.26 per share, which would represent year-over-year growth of 123.38%. Meanwhile, our latest consensus estimate is calling for revenue of $5.84 billion, up 37.11% from the prior-year quarter.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for MercadoLibre. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

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 1.54% lower within the past month. Currently, MercadoLibre is carrying a Zacks Rank of #3 (Hold).

In the context of valuation, MercadoLibre is at present trading with a Forward P/E ratio of 43.73. This valuation marks a premium compared to its industry's average Forward P/E of 21.8.

One should further note that MELI currently holds a PEG ratio of 1.02. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Commerce industry currently had an average PEG ratio of 1.22 as of yesterday's close.

The Internet - Commerce industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 71, finds itself in the top 29% echelons of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

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

To read this article on Zacks.com click here.

Zacks Investment Research