NEW YORK (TheStreet) -- Shares of Mercadolibre Inc. are up 17.17% to $134.98 after reporting third quarter earnings per share of 76 cents after the bell Thursday, up from 66 cents a year ago. The Argentina-based e-commerce technology company beat the consensus estimate of 65 cents of earnings per share. The company reported net revenue of $147.9 million, up 20.2% year-over-year from $123.1 million. Must Read: Warren Buffett's 25 Favorite Stocks STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. "Our strategic initiatives are driving value for all involved, judging by the success we are having at penetrating and promoting our e-commerce solutions across Latin America," CEO Marcos Galperin said, adding, "The greater cross-usage of services provided by our ecosystem is enhancing the experience we bring to our users, and the benefits to our business are clearly reflected in our results for the third quarter of 2014." Notably, items sold on MercadoLibre during the third quarter grew 22.3% to 26.9 million, driven by Brazil SI growth of 29.2%, the company said. Founded in 1999, MercadoLibre is a leading e-commerce technology company in Latin America. Through its primary platforms, MercadoLibre.com and MercadoPago.com, it provides solutions to individuals and companies buying, selling, advertising, and paying for goods and services online. Separately, TheStreet Ratings team rates MERCADOLIBRE INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation: "We rate MERCADOLIBRE INC (MELI) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations, expanding profit margins, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself." You can view the full analysis from the report here: MELI Ratings Report MELI data by YCharts STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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