DLocal (NASDAQ:DLO) Hits New 12-Month High on Strong Earnings

DLocal Limited (NASDAQ:DLO)’s share price hit a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The stock traded as high as $14.66 and last traded at $14.16, with a volume of 6118427 shares changing hands. The stock had previously closed at $11.69.

The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. DLocal had a net margin of 16.90% and a return on equity of 35.95%. The business had revenue of $256.50 million for the quarter, compared to analyst estimates of $226.71 million. During the same period in the previous year, the business earned $0.15 EPS. The firm’s revenue was up 49.7% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Truist Financial assumed coverage on shares of DLocal in a report on Monday, June 2nd. They set a “hold” rating and a $12.00 price target for the company. Susquehanna lifted their price target on shares of DLocal from $16.00 to $18.00 and gave the company a “positive” rating in a report on Thursday, May 15th. HSBC raised shares of DLocal from a “hold” rating to a “buy” rating and lifted their price target for the company from $11.50 to $15.00 in a report on Thursday. UBS Group reissued a “neutral” rating and set a $10.00 price target (up from $9.00) on shares of DLocal in a report on Wednesday, July 30th. Finally, Citigroup assumed coverage on shares of DLocal in a report on Tuesday, May 27th. They set a “buy” rating and a $14.60 price target for the company. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.96.

Institutional Investors Weigh In On DLocal

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its position in DLocal by 398.4% in the 4th quarter. Wells Fargo & Company MN now owns 2,248 shares of the company’s stock valued at $25,000 after acquiring an additional 1,797 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of DLocal by 603.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,053 shares of the company’s stock worth $34,000 after buying an additional 3,477 shares during the period. Parvin Asset Management LLC acquired a new stake in shares of DLocal during the 4th quarter worth approximately $55,000. Activest Wealth Management acquired a new stake in shares of DLocal during the 2nd quarter worth approximately $80,000. Finally, CWM LLC acquired a new stake in shares of DLocal during the 2nd quarter worth approximately $113,000. Institutional investors and hedge funds own 90.13% of the company’s stock.

DLocal Stock Performance

The firm’s 50-day moving average price is $10.88 and its 200 day moving average price is $10.51. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.65 and a current ratio of 1.65. The company has a market cap of $4.38 billion, a price-to-earnings ratio of 31.98 and a beta of 1.10.

DLocal Company Profile

DLocal Limited operates a payment processing platform worldwide. The company offers pay-in solution which the business and get paid for their products and services through various payment methods, including international and local cards, online bank transfers and direct debit, cash, and alternative payment methods.