Mercadolibre, Inc. (MELI Quick QuoteMELI - Free Report) was a big mover last session, as the company saw its shares rise more than 7% on the day. The stock moved up after JPMorgan boosted its rating on the stock to "overweight" from "neutral". This led to solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $151.28 to $173.72 over the past one month time frame.

This Internet commerce industry stock witnessed two positive estimate revisions over the past 30 days. The Zacks Consensus Estimate also moved up over the same time frame, suggesting that more solid trading could be ahead for Mercadolibre. So make sure to keep an eye on this stock going forward to see if Friday’s jump can turn into more strength down the road.

Mercadolibre has a Zacks Rank #3 (Hold), while its Earnings ESP is positive.

MERCADOLIBRE IN Price

 

MERCADOLIBRE IN Price | MERCADOLIBRE IN Quote

However, a better-ranked stock in the same space is Autobytel Inc. , sporting a Zacks Rank #1 (Strong Buy).

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