MercadoLibre Disappoints Despite Impressive Growth
Shopping is a global pastime, and e-commerce giant MercadoLibre (NASDAQ: MELI) has capitalized on the opportunity to provide online-shopping options to customers throughout Latin America. Now that the Latin American economy has shown signs of life after several years of tough conditions, MercadoLibre is tapping into a thriving consumer economy throughout the region and growing its already impressive network of services even further.
Coming into Thursday's second-quarter financial report, MercadoLibre investors had very high expectations for the company. The e-commerce giant wasn't able to deliver on all fronts, and that led to a huge sell-off for the stock, even though long-term prospects remain encouraging. Let's take a closer look at MercadoLibre and what its latest report reveals about what's happening with the business right now.
Image source: MercadoLibre.
Source: Fool.com
Mercadolibre Inc Stock
The stock is an absolute favorite of our community with 36 Buy predictions and no Sell predictions.
With a target price of 2294 € there is a positive potential of 44.4% for Mercadolibre Inc compared to the current price of 1588.6 €.
