MercadoLibre pops after posting strong Q4 results despite macro headwinds
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MercadoLibre (NASDAQ:MELI) soared after topping revenue expectations with its Q4 earnings report despite facing some macro headwinds.
The online retailer reported 60% revenue growth and payment volume jumped 52% during the quarter. Gross margin came in at 40% of sales vs. 36.8% a year ago and the consensus mark of 39.4%.
Morgan Stanley kept an Overweight rating after taking in the report on a positive view of the path ahead for MELI.
Analyst Andrew Ruben: "Looking into 2022, we see a setup for commerce share gains and for a growing impact from new fintech services... we see MELI as a Brazil and LatAm eCommerce share gainer for 2022+. Key supporting factors include leading third-party logistics (~80% of deliveries in <48hrs in 4Q), and a broader category base than peers."
Shares of MELI gained 10.14% to $977.85 in the premarket session on Wednesday.
Dig into the MercadoLibre earnings call transcript.