Stifel Nicolaus analyst Scott Devitt maintained a Buy rating on Mercadolibre (MELI – Research 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.
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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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