UBS Group Cuts VTEX (NYSE:VTEX) Price Target to $11.00

VTEX (NYSE:VTEX) had its price objective decreased by UBS Group from $12.50 to $11.00 in a report issued on Friday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

Separately, Citigroup started coverage on VTEX in a report on Thursday, December 5th. They issued a “neutral” rating and a $6.70 target price for the company. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.62.

VTEX Price Performance

VTEX stock opened at $5.68 on Friday. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 94.68 and a beta of 1.34. VTEX has a 1-year low of $5.66 and a 1-year high of $9.59. The business has a 50 day simple moving average of $6.51 and a two-hundred day simple moving average of $6.80.

VTEX (NYSE:VTEX) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. The firm had revenue of $56.00 million during the quarter, compared to analyst estimates of $57.20 million. VTEX had a return on equity of 3.60% and a net margin of 3.97%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.01) earnings per share. Sell-side analysts anticipate that VTEX will post 0.09 EPS for the current fiscal year.

Institutional Investors Weigh In On VTEX

A number of institutional investors have recently added to or reduced their stakes in VTEX. Quarry LP boosted its holdings in VTEX by 105.7% in the third quarter. Quarry LP now owns 3,637 shares of the company’s stock worth $27,000 after acquiring an additional 1,869 shares in the last quarter. Employees Retirement System of Texas boosted its stake in VTEX by 16.3% in the 2nd quarter. Employees Retirement System of Texas now owns 26,212 shares of the company’s stock worth $190,000 after purchasing an additional 3,668 shares in the last quarter. Barclays PLC purchased a new stake in VTEX during the 3rd quarter worth approximately $35,000. nVerses Capital LLC acquired a new position in VTEX during the 2nd quarter valued at approximately $40,000. Finally, MQS Management LLC acquired a new position in VTEX during the 3rd quarter valued at approximately $91,000. Institutional investors own 63.69% of the company’s stock.

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.