DLocal (NASDAQ:DLO) Shares Gap Down After Analyst Downgrade

DLocal Limited (NASDAQ:DLO)’s stock price gapped down before the market opened on Monday after Truist Financial lowered their price target on the stock from $18.00 to $17.00. The stock had previously closed at $15.06, but opened at $13.80. Truist Financial currently has a buy rating on the stock. DLocal shares last traded at $14.0380, with a volume of 911,478 shares changing hands.

Several other research firms have also recently weighed in on DLO. UBS Group upgraded shares of DLocal from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $16.00 to $20.00 in a research report on Wednesday, July 1st. The Goldman Sachs Group boosted their target price on shares of DLocal from $17.00 to $19.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, Weiss Ratings raised shares of DLocal from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Six analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $19.00.

Insider Activity at DLocal

In other news, Director Sebastian Kanovich sold 72,753 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $15.54, for a total transaction of $1,130,581.62. Following the completion of the sale, the director owned 4,700 shares in the company, valued at $73,038. The trade was a 93.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 45.44% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DLocal

A number of large investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd increased its stake in shares of DLocal by 114.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,826 shares of the company’s stock worth $26,000 after buying an additional 975 shares during the period. Squarepoint Ops LLC raised its holdings in DLocal by 3.8% during the 2nd quarter. Squarepoint Ops LLC now owns 54,199 shares of the company’s stock valued at $704,000 after buying an additional 1,988 shares during the last quarter. Parvin Asset Management LLC boosted its position in DLocal by 51.0% during the 1st quarter. Parvin Asset Management LLC now owns 7,400 shares of the company’s stock valued at $96,000 after buying an additional 2,500 shares during the period. Sterling Capital Management LLC boosted its position in DLocal by 847.2% during the 3rd quarter. Sterling Capital Management LLC now owns 3,031 shares of the company’s stock valued at $42,000 after buying an additional 2,711 shares during the period. Finally, Banque Cantonale Vaudoise bought a new stake in DLocal in the 1st quarter worth $42,000. 90.13% of the stock is currently owned by institutional investors.

DLocal Trading Down 5.6%

The firm has a market cap of $4.19 billion, a P/E ratio of 21.22 and a beta of 0.86. The business’s fifty day simple moving average is $14.68 and its 200-day simple moving average is $13.85.

DLocal (NASDAQ:DLO) last issued its quarterly earnings data on Friday, August 14th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The firm had revenue of $399.66 million during the quarter, compared to the consensus estimate of $366.77 million. DLocal had a net margin of 15.04% and a return on equity of 41.64%. The company’s quarterly revenue was up 55.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.14 earnings per share. Analysts anticipate that DLocal Limited will post 0.80 earnings per share for the current year.

DLocal Company Profile

DLocal is a Uruguay-based financial technology company that provides cross-border payment solutions for businesses operating in emerging markets. Its platform connects global merchants with local payment systems, enabling them to accept payments from consumers and send funds to individuals, businesses and service providers in local currencies.

The company’s services include payment collection, local acquiring, payouts and access to alternative payment methods such as bank transfers, digital wallets and cash-based options.