Mercadolibre Receives a Rating Update from a Top Analyst

By Austin Angelo

In a report released today, Michael Olson from Piper Jaffray reiterated a Buy rating on Mercadolibre (NASDAQ: MELI), with a price target of $415. The company’s shares opened today at $381.01, close to its 52-week high of $395.67.

According to TipRanks.com, Olson is a top 100 analyst with an average return of 19.8% and a 65.7% success rate. Olson covers the Services sector, focusing on stocks such as BJ’s Restaurants, TripAdvisor Inc, and Pandora Media.

Mercadolibre has an analyst consensus of Moderate Buy, with a price target consensus of $366.14.

Mercadolibre’s market cap is currently $16.59B and has a P/E ratio of 124.82. The company has a book value ratio of 40.8473.

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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.