Market Overview

UPDATE: Piper Jaffray Cuts PT to $103 on MercadoLibre on Revenue Miss

Related MELI
Netflix Shelves 'Bill Cosby 77' Show, Overseas Debut In Focus
Stifel's 2020 Vision For Internet Stocks
Make Money off Natural Gas Hot Spots, Latin American eBay (Fox Business)

Piper Jaffray maintained MercadoLibre (NASDAQ: MELI) with an Overweight rating and lowered the price target from $107.00 to $103.00.

Piper Jaffray noted, "MercadoLibre reported revenue of $103.8m compared to Street expectations of $105.2m. The disappointment on USD revenue was the result of a lower take rate mainly on the core marketplace. Our estimates put core marketplace take rate at 4.4%, which compares with 4.7% in Sep-12. EPS of $0.69 was higher than the Street's $0.62. The beat was driven by a slightly lower than expected tax rate and also improvements in sales and marketing (bad debt improvement and $900k non-recurring benefit from recovery) and product and technology costs."

MercadoLibre closed at $84.56 on Monday.

Latest Ratings for MELI

DateFirmActionFromTo
Nov 2014JP MorganMaintainsOverweight
Oct 2014Bank of AmericaUpgradesUnderperformBuy
Oct 2014Credit SuisseMaintainsNeutral

View More Analyst Ratings for MELI
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Price Target Analyst Ratings

 

Related Articles (MELI)

Around the Web, We're Loving...

Get Benzinga's Newsletters