Citigroup Begins Coverage on VTEX (NYSE:VTEX)

Stock analysts at Citigroup began coverage on shares of VTEX (NYSE:VTEX) in a research note issued on Thursday, MarketBeat reports. The brokerage set a “neutral” rating and a $6.70 price target on the stock. Citigroup’s price objective points to a potential upside of 3.88% from the company’s current price.

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

VTEX Price Performance

NYSE VTEX opened at $6.45 on Thursday. The company has a market cap of $1.19 billion, a P/E ratio of 107.52 and a beta of 1.34. The stock has a 50-day moving average of $6.75 and a two-hundred day moving average of $6.85. VTEX has a 1-year low of $5.72 and a 1-year high of $9.59.

VTEX (NYSE:VTEX) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. VTEX had a return on equity of 3.60% and a net margin of 3.97%. The company had revenue of $56.00 million for the quarter, compared to the consensus estimate of $57.20 million. During the same quarter in the prior year, the business earned ($0.01) EPS. VTEX’s revenue was up 10.6% on a year-over-year basis. On average, analysts anticipate that VTEX will post 0.09 EPS for the current fiscal year.

Institutional Investors Weigh In On VTEX

Several hedge funds have recently made changes to their positions in the business. Quarry LP lifted its holdings in VTEX by 105.7% in the third quarter. Quarry LP now owns 3,637 shares of the company’s stock valued at $27,000 after acquiring an additional 1,869 shares during the period. Employees Retirement System of Texas raised its stake in shares of VTEX by 16.3% during the 2nd quarter. Employees Retirement System of Texas now owns 26,212 shares of the company’s stock worth $190,000 after buying an additional 3,668 shares during the last quarter. Barclays PLC purchased a new stake in shares of VTEX in the 3rd quarter worth about $35,000. nVerses Capital LLC purchased a new position in VTEX during the 2nd quarter valued at about $40,000. Finally, MQS Management LLC acquired a new position in VTEX during the third quarter worth about $91,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

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.