VTEX (NYSE:VTEX) Given New $12.00 Price Target at UBS Group

VTEX (NYSE:VTEX) had its price objective increased by UBS Group from $8.50 to $12.00 in a research note released on Monday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. Bank of America upped their price target on shares of VTEX from $8.50 to $12.00 and gave the stock a buy rating in a research note on Monday, January 22nd. JPMorgan Chase & Co. upped their price target on shares of VTEX from $6.50 to $9.00 and gave the company a neutral rating in a research report on Friday, March 1st. Morgan Stanley upgraded VTEX from an equal weight rating to an overweight rating and upped their price target for the stock from $5.50 to $8.00 in a research note on Friday, January 5th. Finally, Piper Sandler upped their price target on VTEX from $9.00 to $10.00 and gave the stock an overweight rating in a research note on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, VTEX currently has a consensus rating of Moderate Buy and a consensus target price of $8.44.

VTEX Price Performance

Shares of NYSE:VTEX opened at $8.56 on Monday. The company’s 50-day moving average is $8.10 and its 200 day moving average is $6.81. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.45 and a current ratio of 3.45. The company has a market capitalization of $1.58 billion, a P/E ratio of -122.27 and a beta of 1.42. VTEX has a fifty-two week low of $3.24 and a fifty-two week high of $9.59.

VTEX (NYSE:VTEX) last posted its earnings results on Tuesday, February 27th. The company reported $0.02 earnings per share for the quarter. VTEX had a negative net margin of 6.48% and a negative return on equity of 5.16%. The firm had revenue of $60.70 million during the quarter, compared to the consensus estimate of $57.07 million. The company’s revenue was up 33.4% compared to the same quarter last year. On average, equities research analysts forecast that VTEX will post -0.03 earnings per share for the current year.

Institutional Trading of VTEX

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp acquired a new stake in shares of VTEX in the first quarter worth approximately $8,747,000. Citigroup Inc. boosted its stake in VTEX by 1,707.8% during the first quarter. Citigroup Inc. now owns 10,829 shares of the company’s stock worth $66,000 after buying an additional 10,230 shares during the last quarter. BlackRock Inc. boosted its stake in VTEX by 151.7% during the first quarter. BlackRock Inc. now owns 18,349 shares of the company’s stock worth $112,000 after buying an additional 11,060 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of VTEX by 314.1% in the 1st quarter. Renaissance Technologies LLC now owns 228,600 shares of the company’s stock valued at $1,406,000 after purchasing an additional 173,400 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in shares of VTEX in the 1st quarter valued at $3,245,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

About VTEX

VTEX provides software-as-a-service digital commerce platform for enterprise brands and retailers. Its platform enables customers to execute their commerce strategy, including building online stores, integrating, and managing orders across channels, and creating marketplaces to sell products from third-party vendors.