MercadoLibre (NASDAQ: MELI)‘s stock had its “overweight” rating reiterated by equities research analysts at JPMorgan Chase in a research note issued to investors on Monday. They currently have a $101.00 price target on the stock, up from their previous price target of $93.00.
The analysts wrote, “We maintain MELI as an Overweight, increasing our price target to $101 for Dec-13, from $93 previously. We like MELI, as: (1) we expect LatAm internet growth to remain solid; (2) we see large growth potential in online purchases in LatAm; (3) we expect MELI to keep strong bottom-line growth (22% EPS CAGR’13E-15E) and cash generation; (4) company maintains a long-term focus, keeping prices low and investing in improvements to develop the market and protect against potential entrants.”
A number of other analysts have also recently weighed in on MELI. Analysts at Piper Jaffray cut their price target on shares of MercadoLibre to $103.00 in a research note to investors on Tuesday, February 26th. Separately, analysts at Deutsche Bank raised their price target on shares of MercadoLibre to $90.00 in a research note to investors on Tuesday, February 26th. Finally, analysts at Morgan Stanley reiterated an “equal weight” rating on shares of MercadoLibre in a research note to investors on Friday, February 15th.
Five analysts have rated the stock with a buy rating, six have assigned a hold rating, and one has assigned a sell rating to the company. The stock currently has an average rating of “overweight” and a consensus price target of $96.36.
MercadoLibre traded up 0.78% on Monday, hitting $86.26. MercadoLibre has a 52-week low of $64.18 and a 52-week high of $102.98. The stock’s 50-day moving average is currently $85.92. The company has a market cap of $3.808 billion and a price-to-earnings ratio of 37.33.
MercadoLibre last announced its earnings results on Monday, February 25th. The company reported $0.69 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.61 by $0.08. The company had revenue of $103.75 million for the quarter, compared to the consensus estimate of $105.21 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. Analysts expect that MercadoLibre will post $2.70 EPS for the current fiscal year.
MercadoLibre, Inc. hosts an online commerce platform in Latin America, called MercadoLibre and located at www.
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