Why MercadoLibre Stock Dipped This Week
Shares of leading Latin American e-commerce and fintech behemoth MercadoLibre (NASDAQ: MELI) are down 13% this week as of 11 a.m. ET on Friday after the company reported fourth-quarter earnings Tuesday afternoon. MercadoLibre grew revenue by 45% in Q4, easily surpassing Wall Street's expectations. However, net income declined 13%, missing analysts' expectations, as the company spent heavily on an array of growth areas, weighing on overall profitability. While this short-term profitability weakness is valid to a degree, it was still an incredible quarter for the company.
In Q4, MercadoLibre:
Image source: Getty Images.
Source Fool.com
Mercadolibre Inc Stock
€1,405.2
-2.080%
The stock is an absolute favorite of our community with 43 Buy predictions and no Sell predictions.
With a target price of 2363 € there is a hugely positive potential of 68.16% for Mercadolibre Inc compared to the current price of 1405.2 €.
