Tag Archives: meli

MercadoLibre Stock Jumps After Q2 Thumps Estimates

MercadoLibre stock was up 14% in morning trading on the stock market today after the Latin American e-commerce leader’s Q2 earnings late Thursday walloped Wall Street estimates. MercadoLibre’s (MELI) earnings rose 7% over the year-earlier quarter to 72 cents a share, excluding the effect of the Venezuelan currency devaluation, beating analysts’ consensus by 16 cents. Revenue increased 18% to $131.8 million, when analysts expected a 2% decline. “A

MercadoLibre Seen Cashing In On Brazilian Internet

MercadoLibre (MELI) is in a great position to cash in on the growing Internet use Brazil, JPMorgan analyst Andre Baggio said in a research report Monday. The leading seller of online products in Latin America will likely be the biggest beneficiary as Internet use and e-commerce grows in Brazil, says Baggio, who rates MercadoLibre stock overweight, or buy. MercadoLibre stock was up nearly 3% in midday trading in the stock market today at a nearly

MercadoLibre Rating Hiked On Currency Conversion

MercadoLibre stock was upgraded to overweight from neutral by JPMorgan on Thursday, but the investment house also lowered its price target to 104 from 114 on the Latin American online marketplace’s decision to adopt new currency conversion rules in Venezuela. The step devalues MercadoLibre’s (MELI) Venezuelan results in U.S. dollars. But JPMorgan says that the company’s earnings will better reflect local value generation following the move. “We