VTEX (NYSE:VTEX) Shares Gap Up After Analyst Upgrade

VTEX (NYSE:VTEX)’s share price gapped up prior to trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $6.50 to $7.50. The stock had previously closed at $6.19, but opened at $6.61. JPMorgan Chase & Co. currently has an overweight rating on the stock. VTEX shares last traded at $6.51, with a volume of 323,177 shares traded.

VTEX has been the topic of several other reports. Wall Street Zen cut VTEX from a “buy” rating to a “hold” rating in a research note on Saturday, May 24th. Jefferies Financial Group began coverage on VTEX in a report on Thursday, May 22nd. They issued a “hold” rating and a $7.30 price objective for the company. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $8.13.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC boosted its stake in shares of VTEX by 1.0% during the 1st quarter. Acadian Asset Management LLC now owns 3,005,818 shares of the company’s stock valued at $15,203,000 after purchasing an additional 29,804 shares in the last quarter. Jane Street Group LLC lifted its holdings in VTEX by 1,570.1% in the first quarter. Jane Street Group LLC now owns 187,146 shares of the company’s stock worth $949,000 after buying an additional 175,940 shares during the period. Goldman Sachs Group Inc. boosted its position in VTEX by 61.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 220,758 shares of the company’s stock valued at $1,119,000 after acquiring an additional 84,189 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in VTEX by 37.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,822 shares of the company’s stock valued at $187,000 after acquiring an additional 10,110 shares in the last quarter. Finally, Trexquant Investment LP grew its holdings in shares of VTEX by 11.3% during the 1st quarter. Trexquant Investment LP now owns 536,977 shares of the company’s stock worth $2,722,000 after acquiring an additional 54,421 shares during the period. 63.69% of the stock is currently owned by institutional investors.

VTEX Trading Down 2.1%

The stock has a market cap of $1.17 billion, a PE ratio of 106.60 and a beta of 1.29. The business has a fifty day simple moving average of $5.42 and a two-hundred day simple moving average of $5.77.

VTEX (NYSE:VTEX) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02. The company had revenue of $54.20 million for the quarter, compared to analysts’ expectations of $52.81 million. VTEX had a return on equity of 3.60% and a net margin of 3.97%. On average, research analysts predict that VTEX will post 0.08 earnings per share for the current year.

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.