Barclays Initiates Coverage On Mercadolibre Inc to Overweight with Price Target $250

Barclays Initiates Coverage On Mercadolibre Inc(MELI). In a research note issued to the investors, the brokerage major Announces the price-target to $250 per share. The shares have been rated Overweight. The rating by the stock financial advisor at Barclays was issued on Mar 28, 2017 in a research report to their Investors and Clients.

In a different note, On Jan 30, 2017, Bank of America said it Upgrades its rating on Mercadolibre Inc. The shares have been rated ‘Buy’ by the firm.

Mercadolibre Inc (MELI) made into the market gainers list on Fridays trading session with the shares advancing 1.29% or 2.68 points. Due to strong positive momentum, the stock ended at $210.86, which is also near the day’s high of $213.09. The stock began the session at $208.18 and the volume stood at 4,05,761 shares. The 52-week high of the shares is $218.75 and the 52 week low is $111.12. The company has a current market capitalization of $9,311 M and it has 4,41,57,364 shares in outstanding.

Mercadolibre Inc(MELI) last announced its earnings results on Feb 23, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $256.275M. Analysts had an estimated revenue of $247.910M. Earnings per share were $1.16. Analysts had estimated an EPS of $0.92.

Several Insider Transactions has been reported to the SEC. On Mar 9, 2017, Stelleo Tolda (Executive VP and COO) sold 2,000 shares at $211.00 per share price.Also, On Oct 20, 2016, Inc Ebay (10% owner) sold 7,100,000 shares at $168.00 per share price.On Aug 22, 2016, Daniel Rabinovich (EVP-Chief Technology Officer) sold 6,195 shares at $166.61 per share price, according to the Form-4 filing with the securities and exchange commission.

MercadoLibre Inc. hosts an online commerce platform in Latin America which is focused on enabling e-commerce and its related services. The Company provides a portfolio of services facilitating e-commerce transactions in Argentina Brazil Chile Colombia Costa Rica Ecuador Mexico Peru Uruguay and Venezuela. The Company also operates online commerce platforms in the Dominican Republic Panama and Portugal. The Company offers its users an eco-system of six related e-commerce services: the MercadoLibre Marketplace The MercadoLibre Classifieds Service the MercadoPago payments solution the MercadoLibre Advertising program the MercadoShops online stores solution and the Mercado Envios shipping service. The Company also operates a real estate classified platform that covers some areas of State of Florida in the United States.

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