5 Stocks to Buy Based on Michael Pausic’s Foxhaven Asset Management Portfolio

3. MercadoLibre, Inc. (NASDAQ:MELI)

Foxhaven Asset Management’s Stake Value: $279.5 million

Percentage of Foxhaven Asset Management’s 13F Portfolio: 8.05%

Number of Hedge Fund Holders: 68

MercadoLibre, Inc. (NASDAQ:MELI) is an Argentinian company that operates online marketplaces and primarily focuses on e-commerce and online auctions. The company is Latin America’s most popular e-commerce site and operates across 16 countries of the region. The company also plans to allow cryptocurrency investments to its customers using digital wallets quite soon.

Barclays analyst Trevor Young has raised the price target of MercadoLibre, Inc. (NASDAQ:MELI) to $2200 up from $2100 and kept an Overweight rating after its third-quarter results. The analyst mentioned that the company is “executing on all fronts.”

Polen Capital mentioned MercadoLibre, Inc. (NASDAQ:MELI) in their second-quarter 2021 investor letter. Here is what the firm said:

“Argentina-based MercadoLibre operates Latin America’s leading e-commerce website and digital wallet. Both e-commerce and consumer finance are underpenetrated among the nearly 400 million citizens living in the company’s three largest markets: Brazil, Argentina, and Mexico.

MercadoLibre’s digitally native solution gives more than 70 million users an easy access point for both online shopping and a digital wallet.

From humble beginnings as a third-party marketplace, MercadoLibre’s management built the business over the last twenty years by steadily expanding the platform’s reach with new services to suit both merchants and consumers. Today’s offerings include financing capabilities for buyers and sellers, logistics, loyalty programs, classifieds listings, and grocery items. We think MercadoLibre can compound earnings at a 25% rate for the next five years.”