Why Shares of MercadoLibre Sank In February
Shares of (NASDAQ: MELI) fell 18.2% in March, according to data from S&P Global Market Intelligence. The e-commerce and financial technology giant in Latin America keeps posting strong growth, but investors are fearful over declining profit margins and intense competition. MercadoLibre stock is now down 32% from all-time highs, one of its worst in recent years.
Here's why MercadoLibre stock fell last month, and whether it is a buy for your portfolio today.
Growth continues to impress at MeracdoLibre. Spending through its e-commerce platform grew 35% year-over-year last quarter across its three largest countries -- Mexico, Brazil, and Argentina -- and also showed impressive growth in smaller Latin American markets. On a constant currency basis, commerce revenue grew 37% year-over-year, while financial technology grew an astounding 61% year-over-year.
Source Fool.com
Mercadolibre Inc Stock
With 39 Buy predictions and not a single Sell prediction Mercadolibre Inc is an absolute favorite of our community.
As a result the target price of 2322 € shows a very positive potential of 56.26% compared to the current price of 1486.0 € for Mercadolibre Inc.
