5 Best Fintech Stocks To Buy Now

4. MercadoLibre, Inc. (NASDAQ:MELI)

Number of Hedge Fund Holders: 74  

MercadoLibre, Inc. (NASDAQ:MELI) features on our list of top fintech stocks because it owns and runs one of the biggest and most profitable fintech platforms in Latin America. Although the firm is famous for ecommerce services, it has over the years built a payments ecosystem that rivals the top fintech firms in the world. Credit Suisse analyst Stephen Ju recently raised the price target on the stock to $2,100 from $2,050, keeping an Outperform rating on the shares. 

MercadoLibre, Inc. (NASDAQ:MELI) recently announced that it would be acquiring a $25 million stake in Aleph, a digital media firm. The firm plans to collaborate with Aleph to monetize advertising space on different digital platforms. 

At the end of the second quarter of 2021, 74 hedge funds in the database of Insider Monkey held stakes worth $4 billion in MercadoLibre, Inc. (NASDAQ:MELI), up from 69 in the previous quarter worth $5 billion.

Baron Funds, in its Q1 2021 investor letter, mentioned MercadoLibre, Inc. (NASDAQ:MELI). Here is what the fund has to say in its letter:

“MercadoLibre, Inc., a Latin American e-commerce and FinTech platform, declined in the quarter despite reporting very strong fourth quarter results. MercadoLibre falls into a category of businesses that were net beneficiaries of last year’s lockdowns and reduced consumer gatherings that fell out of favor this quarter as investors looked toward economic reopening and normalization. We are confident in MercadoLibre’s ability to create substantial long-term value as it grows into a regional powerhouse across e-commerce and financial services.”