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  4. MercadoLibre Gains on Strong EPS Beat, Analyst Says There's 'A Lot to Like'
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MercadoLibre Gains on Strong EPS Beat, Analyst Says There's 'A Lot to Like'

By Senad Karaahmetovic Shares of MercadoLibre (NASDAQ:MELI) are trading higher in premarket Thursday after the company delivered strong Q2 results. MELI reported EPS of $2.43 on...
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MercadoLibre Gains on Strong EPS Beat, Analyst Says There's 'A Lot to Like' © Reuters MercadoLibre Gains on Strong EPS Beat, Analyst Says There's 'A Lot to Like'

By Senad Karaahmetovic

Shares of MercadoLibre (NASDAQ:MELI) are trading higher in premarket Thursday after the company delivered strong Q2 results.

MELI reported EPS of $2.43 on sales of $2.6 billion to top the analyst consensus of $2.02 on revenue of $2.5 billion.

MercadoLibre also reported a Payment volume of $30.19 billion to crush the analyst estimate of $26.81 billion. Payment transactions also easily topped analyst estimates.

A BTIG analyst said there’s “a lot to like” in MELI’s Q2 results, including market share gains, TPV growth, and better credit margins. The analyst hiked the price target to $1,215 from $1,040.

“As was the case last quarter, MELI impressed with strong execution, delivering upside in transaction payment volumes (TPV), credit and profitability… Overall, we believe investors should have little to quibble with given market share gains while also delivering strong profitability. We view MELI as only getting stronger with each passing quarter,” the analyst said in a client note.

A Credit Suisse analyst reiterated an Outperform rating and hiked the price target to $1,470 per share from $1,430 on strong fintech and credit outperformance.

“We maintain our Outperform rating on the following: 1) take rate/monetization rise from ~16% to ~20% of GMV, and ~5% to ~6% of TPV over the next several years, 2) potential to consolidate market share amidst rising adoption of ecommerce, 3) optionality to layer on incremental sources of Payments revenue,” the analyst wrote in a research note.

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01-05-2024 10:45:17 (UTC+7)

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EUR/USD

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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# So hôm qua # Chênh TG
SJC Eximbank8,300/ 8,500
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