Citigroup Begins Coverage on VTEX (NYSE:VTEX)

Analysts at Citigroup assumed coverage on shares of VTEX (NYSE:VTEX) in a note issued to investors on Thursday, Marketbeat Ratings reports. The firm set a “neutral” rating and a $6.70 price target on the stock. Citigroup’s price target suggests a potential upside of 3.80% from the stock’s current price.

Separately, JPMorgan Chase & Co. boosted their target price on VTEX from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.78.

VTEX Stock Performance

Shares of VTEX opened at $6.46 on Thursday. The stock has a fifty day moving average price of $6.75 and a two-hundred day moving average price of $6.85. VTEX has a 52-week low of $5.72 and a 52-week high of $9.59. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 107.58 and a beta of 1.34.

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

Institutional Investors Weigh In On VTEX

A number of institutional investors have recently made changes to their positions in VTEX. Quarry LP grew its stake in shares of VTEX by 105.7% during the third quarter. Quarry LP now owns 3,637 shares of the company’s stock worth $27,000 after purchasing an additional 1,869 shares during the period. Barclays PLC acquired a new stake in shares of VTEX during the third quarter worth $35,000. nVerses Capital LLC acquired a new stake in shares of VTEX during the second quarter worth $40,000. MQS Management LLC acquired a new stake in shares of VTEX during the third quarter worth $91,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of VTEX during the third quarter worth $134,000. 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.