10 Best Fast Growth Stocks To Buy Now

2. MercadoLibre, Inc. (NASDAQ:MELI)

Number of Hedge Fund Investors In Q1 2024: 79

TTM P/E Ratio: 76.32

MercadoLibre, Inc. (NASDAQ:MELI) is the first eCommerce list on the firm. Its rank shows the high growth nature of the industry. The firm reported a strong set of earnings results in May 2024 when it reported that during the first quarter revenue and EPS were $4.3 billion and $6.78, respectively. These beat analyst estimates of $3.84 billion for revenue and $6.10 for profit.

For their March quarter of 2024 investment stakes, 79 out of the 919 hedge funds part of Insider Monkey’s database had piled into MercadoLibre, Inc. (NASDAQ:MELI). Among these, Rajiv Jain’s GQG Partners held a sizeable stake that was worth $1.2 billion.

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