Citigroup Begins Coverage on VTEX (NYSE:VTEX)

Citigroup started coverage on shares of VTEX (NYSE:VTEX) in a report issued on Thursday morning, MarketBeat reports. The brokerage issued a neutral rating and a $6.70 target price on the stock.

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

VTEX Stock Performance

VTEX stock opened at $6.46 on Thursday. The company has a 50 day moving average price of $6.75 and a 200-day moving average price of $6.85. VTEX has a fifty-two week low of $5.72 and a fifty-two week high of $9.59. The company has a market capitalization of $1.19 billion, a PE 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. The company had revenue of $56.00 million for the quarter, compared to analyst estimates of $57.20 million. VTEX had a net margin of 3.97% and a return on equity of 3.60%. VTEX’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company posted ($0.01) earnings per share. On average, analysts forecast that VTEX will post 0.09 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP lifted its position in VTEX by 105.7% during the third quarter. Quarry LP now owns 3,637 shares of the company’s stock valued at $27,000 after purchasing an additional 1,869 shares during the period. Barclays PLC acquired a new position in VTEX during the third quarter valued at $35,000. nVerses Capital LLC acquired a new position in VTEX during the second quarter valued at $40,000. MQS Management LLC acquired a new position in VTEX during the third quarter valued at $91,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in VTEX during the third quarter valued at $134,000. 63.69% of the stock is currently 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.