In a recent review of the top growth stocks globally, The Motley Fool highlights Mercado Libre (MELI), “The Amazon of Latin America” as a promising success, as it acts in a blooming e-commerce region according to Americas Market Intelligence data.

Here is an excerpt from the article:

The reason you may want to step into MercadoLibre isn’t its steep sales growth, however, although that’s certainly a solid bullish argument.

It’s not the company’s growing dominance of Latin America’s online marketplace either, even though that’s a compelling argument as well. (Americas Market Intelligence, or AMI, estimates Latin America’s e-commerce industry will grow at an annualized pace of 25% through 2025 prompted mostly by an explosion of its mobile high-speed internet industry. AMI adds that the bulk of this e-commerce growth will materialize in Brazil and Mexico, where MercadoLibre is already a key player.)

Rather, the top reason to consider stepping into a MercadoLibre position here is the fact that its profitability is now exploding. Per-share earnings are projected to grow from last year’s $9.53 to $16.73 this year to $23.99 in 2024, easily outpacing sales growth. This pace of profit growth isn’t yet fully reflected in the stock’s present price.

Click below to read the full story: 3 Top Growth Stocks That Are Screaming Buys Right Now.