Published on 29 May 2024 on Insider Monkey via Yahoo Finance
MercadoLibre, Inc. (NASDAQ:MELI): One of Hedge Funds’ Favorite Fast Growth Stock
We recently compiled the list of the 10 Best Fast Growth Stocks To Buy according to the hedge funds using the latest sentiment data. In this article, we are going to take a look at where MercadoLibre, Inc. (NASDAQ:MELI) stands against the other fast growth stocks. Recently Lakehouse Global Growth Fund said the following about MercadoLibre Inc:
“The Funds second largest holding, Buenos Aires-based e-commerce leader MercadoLibre, Inc. (NASDAQ:MELI) delivered another standout result in November that came in well ahead of analysts’ expectations. Net revenue grew 40% year-on-year in U.S. dollar terms to $3.76 billion while operating income grew 131% to $685 million, providing a very impressive balance of growth and profitability. The marketplace business grew across all major regions and total gross merchandise volume (GMV) increased to $11.4 billion, up 32% year-on-year. The platform’s core metrics remained healthy with items sold accelerating for the fourth straight quarter to 357 million, unique buyers increasing 18% year-on-year to 50.3 million and items sold per buyer reaching an all-time high of 7.1.