Mercado Libre’s (NASDAQ: MELI) shares are up nearly 300% in the last two years and have ample room to run. The business is growing and accelerating, with plenty of market left to address. Trading above 40x earnings in 2025, the stock is valued at roughly 12x its 2030 forecast, which is likely to be low, setting this market up for another triple-digit gain.
North American eCommerce peer Amazon trades at approximately 32x the current year's earnings, suggesting the increase in MELI shares could approach 200% between now and the start of the next decade, only five years away.
