Jefferies Believes Netshoes (Cayman) Ltd (NYSE: NETS) Won’t Stop Here

By Ryan Adsit

In a report released today, Brian Fitzgerald from Jefferies reiterated a Buy rating on Netshoes (Cayman) Ltd (NYSE: NETS), with a price target of $22. The company’s shares closed yesterday at $18.35, close to its 52-week high of $18.69.

Fitzgerald commented:

“Netshoes reported a solid 1st qtr as a public Co. GMV grew +21% Y/Y (+25% FX-neutral) driven by +21% Y/Y growth in orders. Growth in local currency was strong in all markets and FX-neutral avg basket size increased 0.6% Y/Y. Marketplace is ramping up nicely, slightly ahead of expectations. Adj EBITDA margin improved 660bps excluding non-recurring positive effects from VAT tax credits and adjustment in stock option plan.”

According to TipRanks.com, Fitzgerald is a top 25 analyst with an average return of 22.6% and a 79.0% success rate. Fitzgerald covers the Technology sector, focusing on stocks such as Endurance International, Activision Blizzard, and IAC/InterActiveCorp.

Netshoes (Cayman) Ltd has an analyst consensus of Moderate Buy, with a price target consensus of $22.

The company has a one year high of $18.69 and a one year low of $12.49. Currently, Netshoes (Cayman) Ltd has an average volume of 505.8K.

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Netshoes (Cayman) Ltd. engages in selling of shoes and clothing through stores and online. The company was founded by Marcio Kumruian and Hagop Chabab in January 2000 and is headquartered in São Paulo, Brazil.