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Mercadolibre (NASDAQ:MELI) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research report issued on Tuesday. The firm currently has a $93.80 target price on the stock. Zacks‘s price target would suggest a potential upside of 1.10% from the stock’s previous close.

Mercadolibre (NASDAQ:MELI) traded down 0.78% on Tuesday, hitting $92.055. 814,533 shares of the company’s stock traded hands. Mercadolibre has a one year low of $79.52 and a one year high of $145.99. The stock’s 50-day moving average is $86.1 and its 200-day moving average is $93.97. The company has a market cap of $4.065 billion and a P/E ratio of 31.48.

Mercadolibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.69 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.57 by $0.12. The company had revenue of $115.40 million for the quarter, compared to the consensus estimate of $109.37 million. During the same quarter last year, the company posted $0.53 earnings per share. Mercadolibre’s revenue was up 12.4% compared to the same quarter last year. On average, analysts predict that Mercadolibre will post $2.55 earnings per share for the current fiscal year.

MELI has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. upgraded shares of Mercadolibre from a “neutral” rating to an “overweight” rating in a research note on Thursday, May 29th. They now have a $104.00 price target on the stock, down previously from $114.00. Separately, analysts at Morgan Stanley reiterated an “underweight” rating on shares of Mercadolibre in a research note on Monday, May 19th. They now have a $64.00 price target on the stock. Finally, analysts at Piper Jaffray cut their price target on shares of Mercadolibre from $132.00 to $122.00 in a research note on Monday, May 19th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $96.88.

MercadoLibre Inc is an Argentina-based company active in the e-commerce industy. The Company hosts the online commerce platform in Latin America, focused on enabling e-commerce and its related services, and is located at www.

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