DLocal Limited DLO shares are trading lower Thursday. The stock pulled back following a bump from the company reporting better-than-expected second-quarter financial results and reaffirming full-year 2023 revenue guidance.
What To Know: DLocal reported quarterly earnings of 15 cents per share which beat the analyst consensus estimate of 13 cents, a 50% increase over earnings of 10 cents per share from the same period last year. The company reported quarterly sales of $161.10 million which beat the analyst consensus estimate of $151.18 million, a 59.22% increase over sales of $101.18 million the same period last year.
The company also reaffirmed full-year 2023 revenue guidance of between $620 million and $640 million, versus the $631.43 million estimate.
On Thursday, Goldman Sachs analyst Tito Labarta maintained DLocal with a Buy and raised the price target from $21 to $24.
DLocal stock pulled back over 6% on Thursday, although the stock is up 24.09% year-to-date.
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DLO Price Action: Shares of DLO were down 6.75% at $19.07 at the time of publication, according to Benzinga Pro.
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