VTEX (NYSE:VTEX) Trading 4.3% Higher – Here’s Why

VTEX (NYSE:VTEX)’s share price was up 4.3% during mid-day trading on Thursday . The stock traded as high as $6.04 and last traded at $6.03. Approximately 152,517 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 489,938 shares. The stock had previously closed at $5.78.

Analyst Ratings Changes

Separately, Citigroup started coverage on shares of VTEX in a report on Thursday, December 5th. They set a “neutral” rating and a $6.70 price target for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.78.

VTEX Stock Performance

The stock has a market capitalization of $1.08 billion, a P/E ratio of 97.68 and a beta of 1.34. The stock has a 50-day moving average price of $6.56 and a two-hundred day moving average price of $6.81.

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

Institutional Trading of VTEX

Several institutional investors and hedge funds have recently bought and sold shares of VTEX. Quarry LP boosted its stake in VTEX by 105.7% during the third quarter. Quarry LP now owns 3,637 shares of the company’s stock worth $27,000 after acquiring an additional 1,869 shares in the last quarter. Barclays PLC bought a new position in shares of VTEX during the third quarter valued at approximately $35,000. nVerses Capital LLC purchased a new position in shares of VTEX during the second quarter valued at approximately $40,000. MQS Management LLC bought a new stake in shares of VTEX in the 3rd quarter worth approximately $91,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of VTEX in the 3rd quarter worth approximately $134,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

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.