Mercado Libre (MELI): Listings Growth Continues At Rapid Pace - Piper Jaffray
- Apple (AAPL) Tops Q4 EPS by 2c; Issues Solid Outlook
- Wall St. slips on earnings; Apple results due
- Chipotle Mexican Grill (CMG) Posts Q3 EPS of $0.27; Comps Miss Views; Additional Stock Buyback Approved
- Pandora (P) Misses Q3 EPS by 1c, Q4 Revenue Guidance Falls Short
- Panera Bread (PNRA) Tops Q3 EPS by 3c; Raises Outlook
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Piper Jaffray analyst, Gene Munster, reiterated his Overweight rating on shares of MercadoLibre (NASDAQ: MELI) after data from Piper Jaffray Web Analytics. indicated listings growth continues at a rapid pace.
For the month of July unit growth was ~85% vs. the Jun-16 quarter at 90% y/y and Mar-16 at 84%. This metric does not tie directly to unit growth for MercadoLibre, but it does reflect improvements in supply that can fuel stronger consumption by users.
The analyst believes that MercadoLibre's platform is gaining steam with suppliers due to improvements in the site, peripheral functionality that simplifies listing on MercadoLibre, and the removal of listing fees (eliminating the risk of listing). He continues to believe that MercadoLibre is the best positioned eCommerce company in Latin America.
No change to $185 price target.
Shares of MercadoLibre closed at $166.57 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UBS Cuts Price Target on Kimberly-Clark (KMB) Following 3Q Report
- UBS Raises Price Target on Greenhill & Co. (GHL) to $17; Reiterates Sell
- Oppenheimer Reiterates Outperform on Visa (V) Following Solid 4Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Related EntitiesPiper Jaffray, Gene Munster
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!