Stifel Nicolaus Remains a Hold on Mercadolibre (MELI)


Stifel Nicolaus analyst Scott Devitt maintained a Hold rating on Mercadolibre (MELI) yesterday and set a price target of $655.00. The company’s shares closed last Monday at $658.23.

According to TipRanks.com, Devitt is a top 100 analyst with an average return of 20.0% and a 67.9% success rate. Devitt covers the Technology sector, focusing on stocks such as Jumia Technologies AG, Uber Technologies, and Facebook.

Mercadolibre has an analyst consensus of Moderate Buy, with a price target consensus of $723.00, an 11.7% upside from current levels. In a report issued on February 6, Jefferies also initiated coverage with a Hold rating on the stock with a $700.00 price target.

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Based on Mercadolibre’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $146 million. In comparison, last year the company had a GAAP net loss of $2.34 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.

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