Why MercadoLibre Inc. Stock Fell 11% Today
Shares of MercadoLibre (NASDAQ: MELI) fell as much as 11.7% on Friday, hitting that low around 2:45 p.m. EDT, after the Buenos Aires-based e-commerce company reported second-quarter earnings Thursday night.
Analysts had been looking for adjusted earnings near $1.03 per share on revenues of roughly $311 million. Sales jumped 59% higher year over year to land at $317 million, easily clearing the analyst bar, but the earnings figure fell far short at $0.61 per share.
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Source: Fool.com
Mercadolibre Inc Stock
€1,586.8
-5.520%
With 36 Buy predictions and not a single Sell prediction Mercadolibre Inc is an absolute favorite of our community.
As a result the target price of 2294 € shows a positive potential of 44.57% compared to the current price of 1586.8 € for Mercadolibre Inc.
