Mercadolibre Given “Neutral” Rating at Credit Suisse (MELI)
Mercadolibre (NASDAQ:MELI)‘s stock had its “neutral” rating restated by investment analysts at Credit Suisse in a note issued to investors on Friday. They currently have a $90.00 price target on the stock, up from their previous price target of $77.00. Credit Suisse’s target price would indicate a potential downside of 2.64% from the stock’s previous close.
Mercadolibre (NASDAQ:MELI) traded up 14.52% on Friday, hitting $105.86. The stock had a trading volume of 3,012,681 shares. Mercadolibre has a 52 week low of $79.52 and a 52 week high of $145.99. The stock has a 50-day moving average of $91.77 and a 200-day moving average of $91.52. The company has a market cap of $4.674 billion and a P/E ratio of 31.37.
Mercadolibre (NASDAQ:MELI) last released its earnings data on Thursday, August 7th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.67 earnings per share. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. Analysts expect that Mercadolibre will post $2.35 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. 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. Separately, analysts at TheStreet upgraded shares of Mercadolibre to a “buy” rating in a research note on Friday, July 18th. Finally, 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. Five equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $98.94.
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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