MercadoLibre (MELI) closed the latest trading day at $2,037.18, indicating a +0.81% change from the previous session's end. This change outpaced the S&P 500's 1.86% loss on the day. Meanwhile, the Dow lost 0.9%, and the Nasdaq, a tech-heavy index, lost 2.76%.

Prior to today's trading, shares of the operator of an online marketplace and payments system in Latin America had gained 2.54% over the past month. This has outpaced the Retail-Wholesale sector's loss of 0.23% and the S&P 500's gain of 1.01% in that time.

Market participants will be closely following the financial results of MercadoLibre in its upcoming release. The company is predicted to post an EPS of $11.27, indicating a 57.4% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $5.25 billion, indicating a 39.73% upward movement from the same quarter last year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $37.70 per share and a revenue of $20.53 billion, indicating changes of +93.73% and +41.82%, respectively, from the former year.

It is also important to note the recent changes to analyst estimates for MercadoLibre. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.78% higher. MercadoLibre is holding a Zacks Rank of #2 (Buy) right now.

With respect to valuation, MercadoLibre is currently being traded at a Forward P/E ratio of 53.6. This expresses a premium compared to the average Forward P/E of 23.25 of its industry.

It is also worth noting that MELI currently has a PEG ratio of 1.23. 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. MELI's industry had an average PEG ratio of 1.23 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 65, finds itself in the top 26% echelons of all 250+ industries.