TipRanksStock Market NewsMELI NewsGoldman Sachs Thinks Mercadolibre’s Stock is Going to Recover

Goldman Sachs Thinks Mercadolibre’s Stock is Going to Recover

In a report issued on May 12, Irma Sgarz from Goldman Sachs maintained a Buy rating on Mercadolibre (MELIResearch Report), with a price target of $1650.00. The company’s shares closed last Friday at $794.96, close to its 52-week low of $640.00.

Sgarz has an average return of 58.9% when recommending Mercadolibre.

According to TipRanks.com, Sgarz is ranked #2266 out of 7881 analysts.

Currently, the analyst consensus on Mercadolibre is a Strong Buy with an average price target of $1497.69, implying a 99.4% upside from current levels. In a report issued on May 6, Stifel Nicolaus also maintained a Buy rating on the stock with a $1200.00 price target.

See Insiders’ Hot Stocks on TipRanks >>

The company has a one-year high of $1970.13 and a one-year low of $640.00. Currently, Mercadolibre has an average volume of 664K.

Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is neutral on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Founded in 1999, Argentina-based MercadoLibre, Inc. provides the largest online commerce and payments ecosystem in Latin America. The company provides users a mechanism for buying, selling and paying as well as collecting, generating leads, and comparing lists through e-commerce transactions. It has operations in 18 countries including, Argentina, Brazil, Mexico, Colombia, Chile, Venezuela and Peru.

Read More on MELI:

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More