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Stock analysts at Piper Jaffray hoisted their price objective on shares of Mercadolibre (NASDAQ:MELI) from $104.00 to $137.00 in a report issued on Friday. Piper Jaffray’s target price indicates a potential upside of 29.42% from the stock’s previous close.

Shares of Mercadolibre (NASDAQ:MELI) traded up 14.51% during mid-day trading on Friday, hitting $105.85. The stock had a trading volume of 3,027,356 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 $92.20 and a 200-day moving average of $91.63. The company has a market cap of $4.674 billion and a P/E ratio of 31.37.

Mercadolibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.72 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.67 earnings per share. Mercadolibre’s revenue was up 17.5% compared to the same quarter last year. On average, analysts predict that Mercadolibre will post $2.35 earnings per share for the current fiscal year.

A number of other firms have also recently commented on MELI. 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. Separately, 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. Finally, analysts at TheStreet upgraded shares of Mercadolibre to a “buy” rating in a research note on Friday, July 18th. Five analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Mercadolibre has a consensus 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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