Deutsche Bank Increases Mercadolibre Price Target to $93.00 (MELI)
Equities researchers at Deutsche Bank increased their price objective on shares of Mercadolibre (NASDAQ:MELI) from $72.00 to $93.00 in a research report issued on Friday. Deutsche Bank’s price target points to a potential downside of 12.15% from the company’s current price.
Shares of Mercadolibre (NASDAQ:MELI) traded up 14.51% during mid-day trading on Friday, hitting $105.85. 3,027,356 shares of the company’s stock traded hands. Mercadolibre has a 1-year low of $79.52 and a 1-year high of $145.99. The stock has a 50-day moving average of $92.20 and a 200-day moving average of $91.63. The company has a market cap of $4.674 billion and a price-to-earnings ratio of 31.37.
Mercadolibre (NASDAQ:MELI) last released its earnings data on Thursday, August 7th. The company reported $0.72 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.56 by $0.16. The company had revenue of $131.80 million for the quarter, compared to the consensus estimate of $110.02 million. During the same quarter in the prior year, the company posted $0.67 earnings per share. The company’s quarterly revenue was up 17.5% on a year-over-year basis. Analysts expect that Mercadolibre will post $2.35 EPS for the current fiscal year.
MELI has been the subject of a number of other recent research reports. Analysts at Piper Jaffray raised their price target on shares of Mercadolibre from $104.00 to $137.00 in a research note on Friday. Separately, analysts at Credit Suisse raised their price target on shares of Mercadolibre from $77.00 to $90.00 in a research note on Friday. They now have a “neutral” rating on the stock. Finally, analysts at Zacks downgraded shares of Mercadolibre from a “neutral” rating to an “underperform” rating in a research note on Wednesday, July 23rd. They now have a $87.50 price target on the stock. Five investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $102.94.
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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