MELI - The Best Stocks to Invest $10000 in Right Now
2023-06-14 10:02:00 ET
Trading at high respective forward price-to-earnings (P/E) ratios of 69, 94, and 40, MercadoLibre (NASDAQ: MELI) , Progyny (NASDAQ: PGNY) , and Doximity (NYSE: DOCS) may not scream "we are the best stocks to invest $10,000 in right now." However, each company's improving profitability, dominance within their niche markets, and stellar revenue growth rates should have investors looking past a seemingly "premium" valuation.
Analysts expect this trio to deliver about 20% to 35% sales growth in the current year -- let's explore why these three companies make for a perfect $10,000 basket of stocks to buy and hold forever.
Up 43% year to date and nearly 1,000% over the last decade, Latin American fintech and e-commerce behemoth MercadoLibre boasts a market capitalization, or company price tag, of over $60 billion. Despite its recent rally, MercadoLibre has several long-term growth drivers still operating in its favor.
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The Best Stocks to Invest $10,000 in Right Now