VTEX (NYSE:VTEX) Shares Gap Up to $8.42

VTEX (NYSE:VTEX)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $8.42, but opened at $8.75. VTEX shares last traded at $8.88, with a volume of 160,903 shares traded.

Wall Street Analyst Weigh In

Several brokerages have issued reports on VTEX. Piper Sandler raised their price objective on shares of VTEX from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. boosted their price target on VTEX from $6.50 to $9.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. UBS Group increased their price objective on VTEX from $8.50 to $12.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. Bank of America lifted their target price on VTEX from $8.50 to $12.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. Finally, 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. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, VTEX presently has a consensus rating of “Moderate Buy” and an average price target of $8.44.

VTEX Price Performance

The company has a current ratio of 3.45, a quick ratio of 3.45 and a debt-to-equity ratio of 0.01. The stock has a fifty day simple moving average of $8.15 and a two-hundred day simple moving average of $7.05. The company has a market cap of $1.52 billion, a PE ratio of -117.98 and a beta of 1.41.

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

Institutional Investors Weigh In On VTEX

Several institutional investors have recently made changes to their positions in the stock. Exchange Traded Concepts LLC acquired a new stake in shares of VTEX in the fourth quarter valued at about $28,000. State of Wyoming purchased a new stake in shares of VTEX during the 2nd quarter worth approximately $34,000. Advisors Asset Management Inc. purchased a new stake in shares of VTEX during the 1st quarter worth approximately $59,000. Fox Run Management L.L.C. acquired a new stake in shares of VTEX in the 3rd quarter worth approximately $53,000. Finally, Citigroup Inc. increased its stake in VTEX by 1,707.8% in the 1st quarter. Citigroup Inc. now owns 10,829 shares of the company’s stock valued at $66,000 after purchasing an additional 10,230 shares in the last quarter. 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.