Cowen & Co. Keeps Their Hold Rating on Mercadolibre

By Carrie Williams

Cowen & Co. analyst Thomas Champion reiterated a Hold rating on Mercadolibre (NASDAQ: MELI) today and set a price target of $373. The company’s shares closed yesterday at $322.78.

According to TipRanks.com, Champion is a 4-star analyst with an average return of 14.8% and a 55.9% success rate. Champion covers the Technology sector, focusing on stocks such as Criteo SA, Yelp Inc, and GrubHub.

Mercadolibre has an analyst consensus of Moderate Buy, with a price target consensus of $416.50.

Based on Mercadolibre’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $437 million and GAAP net loss of $67.72 million. In comparison, last year the company earned revenue of $274 million and had a net profit of $48.52 million.

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MercadoLibre, Inc. engages in the provision of online commerce platform with focus on e-commerce and its related services. It operates through the following geographical segments: Brazil, Argentina, Mexico, Venezuela, and Other Countries.