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DLocal Announces Preliminary Q3 Results; Shares Fall Pre-Market

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Shares of Uruguayan financial technology company DLocal Ltd. (DLO) were trading nearly 7.6% down, at the time of writing, in the pre-market session on Tuesday after the company announced preliminary financial results for the third quarter of 2021.

DLO expects its third-quarter revenue to be in the range of $67 million to $68 million, higher than the Street’s estimate of $64.53 million. This is compared to $30.9 million reported in the third quarter of 2020, representing an estimated year-over-year growth between 116.8% and 120.1%.

The rise is mostly driven by the continued growth of enterprise merchants across streaming, ride hailing, advertising, retail, SaaS and travel verticals.

Adjusted EBITDA is projected to total $25 million to $26 million, reflecting an estimated growth of 100% to 108%, as compared to $12.5 million in the year-ago quarter.

DLocal anticipates profit to be in the range of $18 million to $19 million, up an estimated 109.3% and 120.9% from $8.6 million in the previous year.

Furthermore, total payment volume (TPV) during the quarter is expected to lie between $1.78 billion and $1.8 billion. (See Insiders’ Hot Stocks on TipRanks)

Two months ago, HSBC (HSBC) analyst Neha Agarwala maintained a Hold rating on the stock and raised the price target to $55 from $52 (9.2% downside potential).

After the release of the second-quarter results, the analyst said, “With a 32% beat on total payment volume and revenues, DLocal presented a solid Q2.”

Overall, the stock has a Hold consensus rating based on 1 Buy and 3 Holds. The average DLocal price target of $59.75 implies 1.4% downside potential. Shares have gained 87.1% over the past year.

According to TipRanks’ Smart Score rating system, DLocal scores a 7 out of 10, suggesting that the stock is likely to perform in line with market averages.

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