In a report released today, Deepak Mathivanan from Barclays maintained a Buy rating on Mercadolibre (NASDAQ: MELI), with a price target of $365. The company’s shares opened today at $339.
According to TipRanks.com, Mathivanan is a 5-star analyst with an average return of 23.0% and a 71.4% success rate. Mathivanan covers the Technology sector, focusing on stocks such as Webcom Group, Wix.com Ltd, and Yelp Inc.
Currently, the analyst consensus on Mercadolibre is a Moderate Buy with an average price target of $370, representing a 9.1% upside. In a report released yesterday, Credit Suisse also reiterated a Buy rating on the stock with a $425 price target.
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Based on Mercadolibre’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $12.92 million. In comparison, last year the company had a net profit of $5.32 million.
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MercadoLibre, Inc. engages in the provision of online commerce platform with focus on e-commerce and its related services. It operates through the following geographical segments: Brazil, Argentina, Mexico, Venezuela, and Other Countries.
