VTEX (NYSE:VTEX) Given New $9.00 Price Target at JPMorgan Chase & Co.

VTEX (NYSE:VTEX) had its target price lowered by JPMorgan Chase & Co. from $9.50 to $9.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 52.80% from the company’s previous close.

Several other analysts also recently issued reports on VTEX. UBS Group reduced their price target on shares of VTEX from $12.50 to $11.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Citigroup initiated coverage on shares of VTEX in a research note on Thursday, December 5th. They issued a “neutral” rating and a $6.70 target price for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, VTEX currently has an average rating of “Moderate Buy” and a consensus price target of $9.74.

VTEX Stock Performance

Shares of NYSE VTEX opened at $5.89 on Friday. The company’s fifty day moving average is $6.22 and its two-hundred day moving average is $6.71. VTEX has a one year low of $5.60 and a one year high of $9.59. The firm has a market capitalization of $1.08 billion, a P/E ratio of 98.18 and a beta of 1.33.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of VTEX. Quarry LP lifted its holdings in VTEX by 105.7% in the 3rd quarter. Quarry LP now owns 3,637 shares of the company’s stock worth $27,000 after buying an additional 1,869 shares in the last quarter. Barclays PLC purchased a new stake in shares of VTEX during the third quarter worth about $35,000. MQS Management LLC purchased a new stake in shares of VTEX during the third quarter worth about $91,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of VTEX in the third quarter worth about $134,000. Finally, Quadrature Capital Ltd purchased a new position in VTEX in the third quarter valued at about $165,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

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.