Brokerages Set VTEX (NYSE:VTEX) Target Price at $9.62

VTEX (NYSE:VTEX) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $9.62.

VTEX has been the subject of several analyst reports. Citigroup initiated coverage on shares of VTEX in a research note on Thursday, December 5th. They issued a “neutral” rating and a $6.70 price target for the company. UBS Group cut their price objective on VTEX from $12.50 to $11.00 and set a “buy” rating for the company in a research report on Friday, December 20th.

VTEX Stock Performance

NYSE VTEX opened at $5.97 on Tuesday. VTEX has a one year low of $5.60 and a one year high of $9.59. The business has a fifty day moving average price of $6.34 and a 200 day moving average price of $6.75. The company has a market cap of $1.10 billion, a P/E ratio of 99.52 and a beta of 1.34.

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

Hedge Funds Weigh In On VTEX

Institutional investors have recently bought and sold shares of the company. Fourth Sail Capital LP grew its stake in VTEX by 125.0% during the 2nd quarter. Fourth Sail Capital LP now owns 3,098,762 shares of the company’s stock worth $22,497,000 after purchasing an additional 1,721,568 shares in the last quarter. Acadian Asset Management LLC lifted its stake in VTEX by 23.0% in the second quarter. Acadian Asset Management LLC now owns 1,689,205 shares of the company’s stock worth $12,233,000 after acquiring an additional 315,507 shares during the last quarter. American Century Companies Inc. increased its position in shares of VTEX by 34.1% in the 2nd quarter. American Century Companies Inc. now owns 1,329,824 shares of the company’s stock valued at $9,655,000 after purchasing an additional 338,527 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of VTEX by 15.9% in the 2nd quarter. Renaissance Technologies LLC now owns 938,800 shares of the company’s stock valued at $6,816,000 after purchasing an additional 129,100 shares in the last quarter. Finally, State Street Corp lifted its position in shares of VTEX by 51.8% during the 3rd quarter. State Street Corp now owns 806,221 shares of the company’s stock worth $5,998,000 after purchasing an additional 275,024 shares during the last quarter. 63.69% of the stock is owned by institutional investors and hedge funds.

VTEX Company Profile

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.