MercadoLibre (MELI) Stock: ‘Plenty of Room to Keep Growing,’ CFO Says
TLDR
- MercadoLibre CFO Martin de los Santos says Latin America’s e-commerce penetration is only 15%, half that of the U.S., leaving room to grow.
- MELI reported Q2 revenue of $10.17 billion, up 49.8% year over year, beating estimates of $9.79 billion.
- EPS came in at $9.19, topping the $8.65 consensus estimate by $0.54.
- The stock opened at $1,921.96 on Friday, with a 12-month high of $2,548.50 and a market cap of $97.44 billion.
- Analysts have an average “Moderate Buy” rating with an average price target of $2,272.00.
MercadoLibre stock opened at $1,921.96 on Friday, sitting well below its 12-month high of $2,548.50 but above its 52-week low of $1,495.00. The market cap stands at $97.44 billion.
The company’s CFO, Martin de los Santos, sat down with Barron’s this week to lay out why he thinks the growth story is far from over. His case rests on one core number: Latin America’s e-commerce penetration sits at just 15%, roughly half of the U.S. rate.
MELI had 125 million buyers last year. The region has 600 million people. The math is not subtle.
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