Mercadolibre (MELI) Surges: Stock Moves 8.1% Higher
Mercadolibre, Inc. MELI was a big mover last session, as the company saw its shares rise more than 8% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company — as the stock is now up 21% in the past one-month time frame.
The move came after the company’s shares rose following the favorable reports from analysts at Piper Jaffray.
The company has not seen any estimate revisions over the past one month and the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Mercadolibre currently has a Zacks Rank #5 (Strong Sell), while its Earnings ESP is 0.00%.
MercadoLibre, Inc. Price
MercadoLibre, Inc. Price | MercadoLibre, Inc. Quote
A better-ranked stock in the Internet - Commerce industry is Groupon, Inc. GRPN, which currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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