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Analysts turn bullish on MercadoLibre’s (NASDAQ: MELI) post Q1 announcement, maintain 'buy' rating
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MercadoLibre (NASDAQ: MELI) released its financial results for the first quarter of 2023, showcasing a major increase in its net revenue. The earnings release led to the company receiving a ‘Buy’ rating from brokers.
MercadoLibre is an e-commerce technology giant, catering to consumers and businesses who buy and sell goods online. As per Refinitiv, the consensus analysts’ rating on the stock as on May 3, 2023 was ‘Buy’ and the consensus mean price target on the stock was US$ 1,485.53, indicating an upside potential of 16.06% over its closing price of US$ 1,279.99 on May 3, 2023.
MELI shares hit a 52-week high of US$ 1,337.75 on April 18, 2023.
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