TopMarketGainers

Mercadolibre Inc way overvalued.

NASDAQ:MELI   MERCADOLIBRE INC
Today's upgrade to a $800 price target just seems like madness, the stock is already trading at a 1934 P/E ratio which is ridiculous in comparison to some of they greatest companies in the world.
From a technical perspective the chart is showing weakness as it is already a very high price for such a stock, we believe it has further downside ahead.

AVERAGE ANALYSTS PRICE TARGET $693
AVERAGE ANALYSTS RECOMMENDATION Overweight
P/R RATIO 1900
SHORT INTEREST 5%
COMPANY PROFILE
MercadoLibre , Inc. engages in the provision of online commerce platform with focus on e-commerce and its related services. It operates through the following geographical segments: Brazil, Argentina, Mexico, Venezuela, and Other Countries. The firm provides users a mechanism for buying, selling and paying as well as collecting, generating leads, and comparing lists through e-commerce transactions. The company was founded by Marcos Eduardo Galperin on October 15, 1999 and is headquartered in Buenos Aires, Argentina.

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