We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Image: Bigstock
Mercadolibre (MELI) in Focus: Stock Rises 7.2% in Session
Mercadolibre, Inc. (MELI - Free Report) was a big mover last session, as the company saw its shares rise more than 7% on the day. The stock moved up after JPMorgan boosted its rating on the stock to "overweight" from "neutral". This led to solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $151.28 to $173.72 over the past one month time frame.
This Internet commerce industry stock witnessed two positive estimate revisions over the past 30 days. The Zacks Consensus Estimate also moved up over the same time frame, suggesting that more solid trading could be ahead for Mercadolibre. So make sure to keep an eye on this stock going forward to see if Friday’s jump can turn into more strength down the road.
Mercadolibre has a Zacks Rank #3 (Hold), while its Earnings ESP is positive.
MERCADOLIBRE IN Price
MERCADOLIBRE IN Price | MERCADOLIBRE IN Quote
However, a better-ranked stock in the same space is Autobytel Inc. , sporting a Zacks Rank #1 (Strong Buy).
Is MELI going up? Or down? Predict to see what others think: Up or Down
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>