Shares of MercadoLibre Inc (NASDAQ:MELI) tanked in early trading on Wednesday after the company reported mixed fourth-quarter results.
Here are the key analyst insights:
- Cantor Fitzgerald analyst Deepak Mathivanan reiterated an Overweight rating, while lowering the price target from $2,750 to $2,400.
- BTIG analyst Marvin Fong reiterated a Buy rating, while cutting the price target from $2,750 to $2,650.
Check out other analyst stock ratings.
Cantor Fitzgerald: MercadoLibre reported quarterly revenues and EBIT above Street estimates by 3% and 2%, respectively, Mathivanan said in a note. Total GMV (gross merchandise value) growth of 37% year-on-year (ex-FX) came in higher than Street expectations, “driven by further acceleration in Brazil GMV,” he added.
“On the Fintech side, acquiring TPV grew +40% y/y ex-FX while …