Brokerages Set VTEX (NYSE:VTEX) Target Price at $8.44

Shares of VTEX (NYSE:VTEX) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $8.44.

Several equities analysts recently issued reports on the company. Bank of America upped their target price on VTEX from $8.50 to $12.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. JPMorgan Chase & Co. upped their price target on shares of VTEX from $6.50 to $9.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Piper Sandler upped their price target on shares of VTEX from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. Morgan Stanley raised shares of VTEX from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $5.50 to $8.00 in a report on Friday, January 5th. Finally, UBS Group upped their price target on shares of VTEX from $8.50 to $12.00 and gave the company a “buy” rating in a report on Monday, March 25th.

Institutional Investors Weigh In On VTEX

Several hedge funds have recently modified their holdings of the company. Dynamo Internacional Gestao DE Recursos LTDA. boosted its stake in shares of VTEX by 106.6% during the 3rd quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 6,611,822 shares of the company’s stock worth $33,125,000 after acquiring an additional 3,410,937 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of VTEX by 19.3% during the 1st quarter. Capital Research Global Investors now owns 4,129,649 shares of the company’s stock worth $25,397,000 after acquiring an additional 667,849 shares in the last quarter. Fourth Sail Capital LP purchased a new stake in shares of VTEX during the 4th quarter worth about $22,122,000. Bank of New York Mellon Corp purchased a new stake in shares of VTEX during the 1st quarter worth about $8,747,000. Finally, Absoluto Partners Gestao de Recursos Ltda purchased a new stake in shares of VTEX during the 4th quarter worth about $7,899,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

VTEX Price Performance

NYSE VTEX opened at $7.58 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.45 and a quick ratio of 3.45. The stock’s fifty day moving average price is $8.13 and its 200 day moving average price is $7.19. VTEX has a 1 year low of $3.24 and a 1 year high of $9.59. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -108.27 and a beta of 1.41.

VTEX (NYSE:VTEX) last released its earnings results on Tuesday, February 27th. The company reported $0.02 earnings per share (EPS) for the quarter. VTEX had a negative return on equity of 5.16% and a negative net margin of 6.48%. The firm had revenue of $60.70 million for the quarter, compared to the consensus estimate of $57.07 million. The firm’s revenue was up 33.4% on a year-over-year basis. As a group, equities research analysts forecast that VTEX will post -0.03 earnings per share for the current year.

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.