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Stifel Nicolaus Thinks Mercadolibre’s Stock is Going to Recover

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Stifel Nicolaus analyst Scott Devitt maintained a Buy rating on Mercadolibre (MELIResearch Report) today and set a price target of $1200.00. The company’s shares closed last Thursday at $913.22, close to its 52-week low of $858.99.

According to TipRanks.com, Devitt is a 5-star analyst with an average return of 10.6% and a 45.1% success rate. Devitt covers the Technology sector, focusing on stocks such as Zillow Group Class A, Uber Technologies, and Alphabet Class A.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Mercadolibre with a $1446.00 average price target, representing a 45.6% upside. In a report issued on May 2, Credit Suisse also maintained a Buy rating on the stock with a $1440.00 price target.

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The company has a one-year high of $1970.13 and a one-year low of $858.99. Currently, Mercadolibre has an average volume of 604.2K.

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.

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