Up Nearly 300% in 2 Years, It's Not Too Late to Buy Mercado Libre

Core Viewpoint - MercadoLibre's stock has shown significant growth, with a nearly 300% increase over the last two years, indicating strong business growth and market potential [1] Financial Performance - In Q2, MercadoLibre reported a revenue increase of 34%, surpassing consensus estimates by nearly 200 basis points, while earnings fell short due to growth investments [5][6] - The consumer segment grew by 29%, while the fintech segment outperformed with a 40% increase in user counts and merchandise volume [7] - The company experienced a 210-basis-point contraction in profit margin, but year-over-year earnings are up 14%, supporting a positive growth outlook [8] Analyst Ratings and Forecasts - The stock is currently rated as a Moderate Buy with a forecasted upside of 50% at the high end of the range, with analysts raising ratings and price targets ahead of Q2 results [2][3] - The 12-month stock price forecast is $2,740.83, with a high forecast of $3,500.00 and a low of $2,200.00 [7] Investment Strategy - The company's balance sheet shows increased cash and total assets, with equity rising by 30%, indicating a strong financial position for modest share repurchases and reinvestment [10] - The bullish price action suggests that the stock is set to reach new all-time highs, with critical support levels established following the Q2 earnings release [11][12]