VTEX (NYSE:VTEX) Stock Price Up 6.8% – Still a Buy?

VTEX (NYSE:VTEX) shares rose 6.8% during mid-day trading on Wednesday . The company traded as high as $6.87 and last traded at $6.84. Approximately 802,364 shares traded hands during mid-day trading, an increase of 21% from the average daily volume of 663,610 shares. The stock had previously closed at $6.40.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on VTEX. UBS Group reduced their price target on shares of VTEX from $12.50 to $11.00 and set a “buy” rating for the company in a research note on Friday, December 20th. JPMorgan Chase & Co. lowered their price target on VTEX from $9.50 to $9.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Finally, Citigroup started coverage on VTEX in a report on Thursday, December 5th. They issued a “neutral” rating and a $6.70 price objective for the company.

VTEX Price Performance

The firm has a market cap of $1.22 billion, a PE ratio of 110.94 and a beta of 1.36. The business has a fifty day moving average price of $6.17 and a two-hundred day moving average price of $6.61.

Hedge Funds Weigh In On VTEX

Institutional investors have recently bought and sold shares of the stock. AMS Capital Ltda grew its position in VTEX by 12.9% during the third quarter. AMS Capital Ltda now owns 726,443 shares of the company’s stock worth $5,405,000 after buying an additional 83,096 shares in the last quarter. GSA Capital Partners LLP lifted its position in shares of VTEX by 273.9% during the third quarter. GSA Capital Partners LLP now owns 87,967 shares of the company’s stock worth $654,000 after purchasing an additional 64,438 shares in the last quarter. MQS Management LLC acquired a new stake in shares of VTEX in the third quarter valued at approximately $91,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of VTEX during the third quarter worth $134,000. Finally, Janus Henderson Group PLC lifted its position in VTEX by 2,128.1% during the 3rd quarter. Janus Henderson Group PLC now owns 558,216 shares of the company’s stock valued at $4,144,000 after purchasing an additional 533,163 shares during the period. 63.69% of the stock is currently 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.