5 Best Fintech Stocks to Invest In According to Billionaires

4. MercadoLibre, Inc. (NASDAQ:MELI)

Number of Billionaire Investors: 28

MercadoLibre, Inc. (NASDAQ:MELI) is one of the best fintech stocks to invest in according to billionaires. On April 21, Cantor Fitzgerald reduced its price target on MercadoLibre, Inc. (NASDAQ:MELI) from $2,400 to $2,350 while keeping an Overweight rating on the stock.

The research firm expects first-quarter e-commerce to show steady demand. Performance is likely to be in line with, or slightly better than, expectations. This outlook of Cantor Fitzgerald is supported by steady non-store retail growth, along with seasonal and promotional tailwinds. However, MercadoLibre, Inc. (NASDAQ:MELI) may give cautious guidance for the second quarter due to uncertainty around the economy and trade. Despite this, Cantor Fitzgerald believes any disruption to demand seems limited and continued AI-driven product innovation is also expected to support e-commerce growth in the coming quarters.

Earlier, on April 7, Jefferies upgraded its rating on MercadoLibre, Inc. (NASDAQ:MELI) from Hold to Buy. The research firm has a price target of $2,600 on the stock.

The firm noted that earnings downgrades, caused by pressure on margins, have pushed the stock’s valuation to “historical absolute and relative lows.” However, Jefferies pointed out that the company’s increased investments are starting to pay off with stronger revenue drivers. The research firm supports MercadoLibre, Inc.’s (NASDAQ:MELI) strategy and “successful long term track record” of investing in long-term growth opportunities.

MercadoLibre, Inc. (NASDAQ:MELI) is the leading e-commerce and financial technology company in Latin America with a presence in 18 countries.