Shares of The Trade Desk ( TTD 5.61% ) and MercadoLibre ( MELI +2.49% ) have declined 71% and 24%, respectively, from their record highs. But Wall Street analysts generally think the stocks are undervalued, and some anticipate substantial gains in the next year.

Among 42 analysts, The Trade Desk has a median target price of $60 per share, implying 53% upside from the current share price of $39. The highest target of $98 per share comes from Brian Pitz at BMO Capital, and it implies 150% upside.

Among 27 analysts, MercadoLibre has a median target price of $2,842 per share, which implies 42% upside from its current share price of $1,999. The highest target of $3,500 per share comes from Hector Maya at Scotiabank , and it implies 75% upside.

Here's what investors should k

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