In a report issued on May 12, Irma Sgarz from Goldman Sachs maintained a Buy rating on Mercadolibre (MELI – Research 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.
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.
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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.
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