It also offers payments and lending solutions, along with a robust ad business and a logistics division. MercadoLibre is an e-commerce company that operates in Latin America. Further, analysts’ 12-month average price target of $110.36 implies 53.2% upside potential from current levels. It has received 10 Buy and one Hold recommendations for a Strong Buy consensus rating.

Overall, Wall Street is bullish about PDD stock. The company is expected to announce its first-quarter results on May 26, 2023. The increase in website visits can be attributed to the platform’s vast addressable market and high demand for low-priced products due to persistently high inflation. Global visits to and climbed by 167.6% sequentially in the quarter. It is worth mentioning that the TipRanks website traffic tool points to a solid top-line performance in the first quarter (ended March 2023). In September 2022, the company launched its deep discount online platform Temu in the United States, which has become the most downloaded app in the United States. In the January-March quarter, the Chinese e-commerce company Pinduoduo has likely benefited from the reopening of China’s borders and efforts to enhance e-commerce offerings. With this in mind, we've used the screener to identify three e-commerce stocks that experienced sequential growth in website traffic during the recent quarter and have received Strong Buy ratings from Wall Street analysts.

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