Based on the average brokerage recommendation (ABR), MercadoLibre (MELI) should be added to one's portfolio. Wall Street analysts' overly optimistic recommendations cast doubt on the effectiveness of this highly sought-after metric. So, is the stock worth buying?
Latin American e-commerce giant MercadoLibre's fintech arm, Mercado Pago, has seen adoption of its slim mobile credit-card readers more than double in the past year, gaining on competing options from banks and Clip, an executive said. In Mexico, cash is still king - and as Latin America's No. 2 economy, it still lags far behind Brazil in terms of digitalization, Brigitte Brousset, Mercado Pago's head of financing for merchants in Mexico, told Reuters. Brazil had been in a similar situation, but credit card adoption was quick and central bank-backed system Pix is now threatening to take over digital payments.
The latest trading day saw MercadoLibre (MELI) settling at $1,582.14, representing a +0.1% change from its previous close.