DLocal (NASDAQ:DLO) Stock Price Target Cut by Truist Financial

DLocal (NASDAQ:DLO) had its price target cut by research analysts at Truist Financial from $18.00 to $17.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial‘s price objective would indicate a potential upside of 14.22% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the stock. UBS Group raised shares of DLocal from a “neutral” rating to a “buy” rating and upped their target price for the company from $16.00 to $20.00 in a report on Wednesday, July 1st. The Goldman Sachs Group lifted their price target on DLocal from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, Weiss Ratings raised DLocal from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Six research analysts have rated the stock with a Buy rating. According to MarketBeat, DLocal presently has an average rating of “Buy” and a consensus price target of $19.00.

DLocal Stock Up 0.3%

Shares of NASDAQ DLO traded up $0.04 during trading hours on Friday, hitting $14.88. The company had a trading volume of 1,327,193 shares, compared to its average volume of 2,029,012. DLocal has a 1-year low of $10.64 and a 1-year high of $16.15. The firm’s 50 day moving average is $14.66 and its 200-day moving average is $13.83. The stock has a market capitalization of $4.39 billion, a P/E ratio of 22.22 and a beta of 0.86.

DLocal (NASDAQ:DLO) last issued its earnings results on Friday, August 14th. The company reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. The business had revenue of $399.66 million for 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 firm’s revenue for the quarter was up 55.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.14 earnings per share. On average, sell-side analysts predict that DLocal will post 0.80 earnings per share for the current year.

Insiders Place Their Bets

In other DLocal news, Director Sebastian Kanovich sold 72,753 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $73,038. This trade represents a 93.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 45.44% of the company’s stock.

Hedge Funds Weigh In On DLocal

Institutional investors and hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd boosted its holdings in shares of DLocal by 114.6% during the 4th 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. Sterling Capital Management LLC grew its stake in DLocal by 847.2% in 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 last quarter. Banque Cantonale Vaudoise acquired a new position in DLocal in the 1st quarter valued at about $42,000. State of Alaska Department of Revenue acquired a new position in DLocal in the 3rd quarter valued at about $80,000. Finally, Parvin Asset Management LLC raised its holdings in DLocal by 51.0% in the 1st quarter. Parvin Asset Management LLC now owns 7,400 shares of the company’s stock valued at $96,000 after acquiring an additional 2,500 shares during the period. 90.13% of the stock is currently owned by institutional investors and hedge funds.

About DLocal

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.