Mercadolibre Stock Gaps Up On Today's Open (MELI)

NEW YORK ( TheStreet) -- Shares of Mercadolibre (Nasdaq: MELI) were gapping up Friday morning with an open price 18.5% higher than Thursday's closing price. The stock closed at $66.52 Thursday and opened today's trading at $78.82.

The average volume for Mercadolibre has been 690,700 shares per day over the past 30 days. Mercadolibre has a market cap of $2.89 billion and is part of the services sector and diversified services industry. Shares are down 17.6% year to date as of the close of trading on Thursday.

MercadoLibre, Inc., together with its subsidiaries, hosts online commerce and payments platforms in Latin America. Its services are designed to provide its users with mechanisms to buy, sell, pay for, and collect on e-commerce transactions. The company has a P/E ratio of 35.2, above the average diversified services industry P/E ratio of 35 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Mercadolibre as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full Mercadolibre Ratings Report.

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