VTEX (NYSE:VTEX) Trading Up 6.2% – Still a Buy?

VTEX (NYSE:VTEX) shares rose 6.2% during mid-day trading on Tuesday . The stock traded as high as $6.55 and last traded at $6.61. Approximately 103,764 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 627,686 shares. The stock had previously closed at $6.22.

Wall Street Analyst Weigh In

VTEX has been the subject of a number of research reports. UBS Group lowered their target price on VTEX from $12.50 to $11.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Citigroup assumed coverage on VTEX in a research report on Thursday, December 5th. They set a “neutral” rating and a $6.70 price target for the company. Finally, JPMorgan Chase & Co. dropped their price target on shares of VTEX from $9.50 to $9.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th.

VTEX Price Performance

The stock has a market capitalization of $1.24 billion, a P/E ratio of 111.89 and a beta of 1.33. The stock’s 50-day simple moving average is $6.11 and its 200 day simple moving average is $6.63.

VTEX (NYSE:VTEX) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. VTEX had a net margin of 3.97% and a return on equity of 3.60%. The firm 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 firm earned ($0.01) EPS. The business’s revenue was up 10.6% on a year-over-year basis. As a group, analysts expect that VTEX will post 0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On VTEX

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP raised its holdings in VTEX by 105.7% in the 3rd quarter. Quarry LP now owns 3,637 shares of the company’s stock valued at $27,000 after acquiring an additional 1,869 shares in the last quarter. Barclays PLC acquired a new position in VTEX in the third quarter valued at about $35,000. MQS Management LLC acquired a new position in VTEX in the third quarter valued at about $91,000. Dynamic Technology Lab Private Ltd bought a new stake in VTEX during the third quarter worth about $134,000. Finally, Quadrature Capital Ltd acquired a new stake in VTEX during the third quarter worth about $165,000. 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.