5 Best E-Commerce Stocks to Invest In

4. MercadoLibre, Inc. (NASDAQ:MELI)

Number of Hedge Fund Holders: 77

Argentina-based ecommerce and online marketplace company MercadoLibre, Inc. (NASDAQ:MELI) ranks 4th in our list of the best ecommerce stocks to buy now according to hedge funds. In August, Wedbush started covering MercadoLibre, Inc. (NASDAQ:MELI) with an Outperform rating and a $1,500 price target.

A total of 77 hedge funds in Insider Monkey’s database of 910 hedge funds had stakes in MercadoLibre, Inc. (NASDAQ:MELI) as of the end of the second quarter of 2023.

Artisan Developing World Fund made the following comment about MercadoLibre, Inc. (NASDAQ:MELI) in its Q3 2023 investor letter:

“Top contributors to performance for the quarter included Latin American marketplace MercadoLibre, Inc. (NASDAQ:MELI). MercadoLibre rose as a result of continued share gains across key markets and supportive Brazilian regulations aimed at creating a level playing field in cross-border e-commerce.”