UBS Group Lowers VTEX (NYSE:VTEX) Price Target to $11.00

VTEX (NYSE:VTEX) had its price objective cut by UBS Group from $12.50 to $11.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price objective would suggest a potential upside of 93.66% from the company’s previous close.

Separately, Citigroup assumed coverage on shares of VTEX in a report on Thursday, December 5th. They issued a “neutral” rating and a $6.70 price target on the stock. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, VTEX presently has an average rating of “Moderate Buy” and an average price target of $9.62.

VTEX Stock Performance

VTEX stock opened at $5.68 on Friday. The stock has a fifty day moving average of $6.51 and a 200-day moving average of $6.80. VTEX has a fifty-two week low of $5.66 and a fifty-two week high of $9.59. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 94.68 and a beta of 1.34.

VTEX (NYSE:VTEX) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.02 EPS for the quarter, meeting analysts’ consensus estimates of $0.02. VTEX had a net margin of 3.97% and a return on equity of 3.60%. The company had revenue of $56.00 million for the quarter, compared to analysts’ expectations of $57.20 million. During the same period in the prior year, the company posted ($0.01) EPS. VTEX’s revenue was up 10.6% compared to the same quarter last year. Equities analysts predict that VTEX will post 0.09 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. nVerses Capital LLC purchased a new stake in shares of VTEX during the second quarter valued at approximately $40,000. Constellation Investimentos e Participacoes Ltda bought a new stake in VTEX in the 2nd quarter worth $296,000. Acadian Asset Management LLC increased its position in shares of VTEX by 23.0% in the second quarter. Acadian Asset Management LLC now owns 1,689,205 shares of the company’s stock valued at $12,233,000 after acquiring an additional 315,507 shares during the period. American Century Companies Inc. raised its stake in shares of VTEX by 34.1% during the second quarter. American Century Companies Inc. now owns 1,329,824 shares of the company’s stock valued at $9,655,000 after acquiring an additional 338,527 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of VTEX by 15.9% during the second quarter. Renaissance Technologies LLC now owns 938,800 shares of the company’s stock worth $6,816,000 after purchasing an additional 129,100 shares during the period. 63.69% of the stock is owned by 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.