#4 - MercadoLibre (NASDAQ:MELI)
When many investors think about eCommerce stocks, the U.S. and China come to mind. But you shouldn’t forget about MercadoLIbre, Inc. (NASDAQ: MELI). The company has the nickname “Amazon of Latin America” and it has the numbers to back that up.
Operating in 18 countries, the company generated earnings per share (EPS) of $9.54 on revenue of $10.48 billion. And in the first quarter of 2023, it generated $3.04 billion in revenue, a 35% year-over-year increase. The company even showed strong year-over-year EPS growth of 205%.
By many measures, MELI stock is expensive. It has a forward P/E ratio of over 70x earnings. And the stock itself changes hands at $1,223.02 per share as of this writing.
However, MercadoLibre analyst ratings on MarketBeat give the stock an upside of 21% from its price as of June 26, 2023. And the company is expected to deliver earnings growth of over 54% between 2023 and 2024. If the company hits those numbers, then MELI stock will grow into that valuation.
About MercadoLibre
MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.
Read More - Current Price
- $2,005.00
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 15 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $2,269.67 (13.2% Upside)
