Has MercadoLibre (MELI) Outpaced Other Retail-Wholesale Stocks This Year?
Investors focused on the Retail-Wholesale space have likely heard of MercadoLibre (MELI), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Retail-Wholesale sector should help us answer this question.
MercadoLibre is one of 210 individual stocks in the Retail-Wholesale sector. Collectively, these companies sit at #2 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. MELI is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for MELI's full-year earnings has moved 27.47% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, MELI has returned 72.14% so far this year. Meanwhile, stocks in the Retail-Wholesale group have gained about 13.54% on average. This shows that MercadoLibre is outperforming its peers so far this year.
Looking more specifically, MELI belongs to the Internet - Commerce industry, a group that includes 28 individual stocks and currently sits at #61 in the Zacks Industry Rank. On average, this group has gained an average of 33.36% so far this year, meaning that MELI is performing better in terms of year-to-date returns.
Investors in the Retail-Wholesale sector will want to keep a close eye on MELI as it attempts to continue its solid performance.
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
