My 2 Favorite Growth Stocks to Buy Right Now

Many growth stocks fizzled out in 2022 and 2023 as interest rates rose. However, many of those stocks bounced back in 2024 and 2025 after the Fed cut its benchmark rates six times. The reason was simple: higher rates drove investors toward more conservative investments, while lower rates sparked a rotation back toward higher-risk growth stocks.

Investors might be wary of loading up on more growth stocks as the market hovers near its record highs, but they shouldn't neglect the secular growth plays, which still have plenty of upside potential. Let's review two of my favorite growth stocks to buy right now -- MercadoLibre (NASDAQ: MELI) and Uber (NYSE: UBER) -- and see why they could soar a lot higher over the next few years.

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MercadoLibre

MercadoLibre is Latin America's leading e-commerce and fintech company. It's headquartered in Uruguay, operates its online marketplace across 19 Latin America countries, and served 76.8 unique active buyers at the end of the third quarter of 2025.

It generates most of its revenue in Brazil, Argentina, and Mexico, but has been expanding into higher-growth markets such as Chile, Colombia, Peru, and Ecuador. The recent U.S. military intervention in Venezuela could also pave the way for MercadoLibre's return to that crisis-stricken country, which it effectively exited by deconsolidating its local operations in 2017.

MercadoLibre integrates its digital payments platform, Mercado Pago, into its own marketplace and those of third-party retailers, and it's expanding that fintech ecosystem with digital banking services. Its fintech platform served 72.2 million monthly active users at the end of the third quarter of 2025.

From 2024 to 2027, analysts expect MercadoLibre's revenue and earnings per share (EPS) to grow at a CAGR of 29% and 30%, respectively, as it expands those two businesses. It still looks reasonably valued at 33 times its 2026 earnings, and it remains one of the simplest ways to profit from the long-term growth of Latin America's e-commerce and fintech markets.

Grand View Research expects Latin America's e-commerce market to expand at a CAGR of 17.4% from 2024 to 2030 as the region's income levels and internet penetration rates increase. IMARC Group expects the region's fintech market to expand at a CAGR of 15.1% from 2026 to 2034 as MercadoLibre and its industry peers secure more unbanked customers.

Uber

Uber is the world's largest provider of ride-hailing services, and it also owns one of the top food delivery platforms. It operates in over 15,000 cities across 75 countries and served 189 million monthly active platform customers (MAPCs) as of the end of the third quarter of 2025. That's more than double its 93 million MAPCs at the end of 2020.

Uber experienced a slowdown during the pandemic as its users booked fewer rides. However, it bounced back over the following years as it grew its market share, rolled out more features, expanded in Asia and Latin America, and locked more users into its Uber One subscription service -- which served 36 million subscribers at the end of the third quarter of 2025.

From 2024 to 2027, analysts expect Uber's revenue and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to increase at a CAGR of 16% and 28%, respectively. With an enterprise value of $174 billion, it still appears undervalued at 15 times its projected adjusted EBITDA for 2026.

Uber should profit from the long-term growth of the ride-hailing and food delivery service markets. According to Market Research Future, the global ride-hailing market is expected to expand at a CAGR of 19.2% from 2025 to 2035, as it disrupts the traditional taxi market. Grand View Research predicts that the food delivery market will grow at a CAGR of 9.4% from 2025 to 2030, as more restaurants shift their online orders to third-party delivery apps. Those secular tailwinds could drive its stock a lot higher over the next few years.

Leo Sun has positions in MercadoLibre. The Motley Fool has positions in and recommends MercadoLibre and Uber Technologies. The Motley Fool has a disclosure policy.