Mercadolibre Inc (MELI) was Reiterated by Piper Jaffray to “Overweight” according to the research note released today. The brokerage firm has raised the Price Target to $ 185 from a previous price target of $160 . Piper Jaffray advised their investors in a research report released on Aug 5, 2016.
On the company’s financial health, Mercadolibre Inc reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.60. The company had revenue of $199.64 million for the quarter, compared to analysts expectations of $180.94 million. The company’s revenue was up 29.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.
Mercadolibre Inc opened for trading at $151.63 and hit $152.73 on the upside on Thursday, eventually ending the session at $152.25, with a gain of 0.64% or 0.97 points. The heightened volatility saw the trading volume jump to 6,61,495 shares. Company has a market cap of $6,723 M.
MercadoLibre Inc. hosts an online commerce platform in Latin America which is focused on enabling e-commerce and its related services. The Company provides a portfolio of services facilitating e-commerce transactions in Argentina Brazil Chile Colombia Costa Rica Ecuador Mexico Peru Uruguay and Venezuela. The Company also operates online commerce platforms in the Dominican Republic Panama and Portugal. The Company offers its users an eco-system of six related e-commerce services: the MercadoLibre Marketplace The MercadoLibre Classifieds Service the MercadoPago payments solution the MercadoLibre Advertising program the MercadoShops online stores solution and the Mercado Envios shipping service. The Company also operates a real estate classified platform that covers some areas of State of Florida in the United States.