MercadoLibre Is Down Over 40% From Its High -- Is It Time to Buy?
MercadoLibre (NASDAQ: MELI) delivered an impressive fourth-quarter earnings report on Feb. 23. The Latin American e-commerce and fintech leader's revenue rose 56.5% year over year in constant currency terms to $3.0 billion, topping analysts' expectations by $40 million. It generated a net profit of $165 million, compared to a net loss of $46 million a year earlier, while its earnings of $3.25 per share exceeded the consensus forecast by $0.93 per share.
Those headline numbers were impressive, but MercadoLibre's stock price remains more than 40% below the all-time high of $1,984 it reached just over a year ago. Should investors buy this growth stock as the bulls look the other way?
Image source: Getty Images.
Source Fool.com
