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
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 61.63% for Mercadolibre Inc compared to the current price of 1462.0 €.
