In a report released yesterday, Robert Ford from Merrill Lynch reiterated a Buy rating on Mercadolibre (MELI), with a price target of $1550.00. The company’s shares closed last Monday at $1124.31, close to its 52-week high of $1248.22.
Ford has an average return of 41.7% when recommending Mercadolibre.
According to TipRanks.com, Ford is ranked #1408 out of 6880 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Mercadolibre with a $1128.80 average price target, representing a -10.9% downside. In a report issued on July 30, Credit Suisse also assigned a Buy rating to the stock with a $1255.00 price target.
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Based on Mercadolibre’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $652 million and GAAP net loss of $21.11 million. In comparison, last year the company earned revenue of $474 million and had a net profit of $11.86 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. The firm provides users a mechanism for buying, selling and paying as well as collecting, generating leads, and comparing lists through e-commerce transactions. The company was founded by Marcos Eduardo Galperin on October 15, 1999 and is headquartered in Buenos Aires, Argentina.