VTEX (NYSE:VTEX) Shares Gap Down to $8.13

Shares of VTEX (NYSE:VTEX - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $8.13, but opened at $6.97. VTEX shares last traded at $7.05, with a volume of 732,451 shares.

Analyst Upgrades and Downgrades

VTEX has been the topic of a number of recent analyst reports. Bank of America increased their target price on shares of VTEX from $8.50 to $12.00 and gave the company a "buy" rating in a research report on Monday, January 22nd. UBS Group raised their price target on VTEX from $8.50 to $12.00 and gave the stock a "buy" rating in a research note on Monday, March 25th. Piper Sandler increased their price objective on VTEX from $9.00 to $10.00 and gave the company an "overweight" rating in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. increased their target price on shares of VTEX from $6.50 to $9.00 and gave the stock a "neutral" rating in a research note on Friday, March 1st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $8.44.

VTEX Stock Down 14.6 %

The stock has a market capitalization of $1.28 billion, a PE ratio of -99.99 and a beta of 1.41. The firm's fifty day moving average is $8.18 and its 200-day moving average is $7.41. The company has a quick ratio of 3.45, a current ratio of 3.45 and a debt-to-equity ratio of 0.01.

VTEX (NYSE:VTEX - Get Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.02. VTEX had a negative return on equity of 5.16% and a negative net margin of 6.48%. The firm had revenue of $52.60 million during the quarter, compared to analysts' expectations of $53.45 million. During the same quarter in the prior year, the business posted ($0.04) earnings per share. VTEX's revenue was up 24.3% compared to the same quarter last year. On average, equities research analysts predict that VTEX will post -0.02 earnings per share for the current year.

Hedge Funds Weigh In On VTEX

Hedge funds have recently bought and sold shares of the company. Exchange Traded Concepts LLC acquired a new stake in VTEX in the 4th quarter valued at about $28,000. Fox Run Management L.L.C. purchased a new stake in VTEX in the 3rd quarter valued at approximately $53,000. New York State Common Retirement Fund acquired a new stake in VTEX during the 4th quarter valued at $99,000. Baader Bank Aktiengesellschaft acquired a new position in shares of VTEX in the fourth quarter worth $138,000. Finally, Van ECK Associates Corp lifted its position in shares of VTEX by 28.6% in the fourth quarter. Van ECK Associates Corp now owns 33,226 shares of the company's stock valued at $229,000 after acquiring an additional 7,392 shares in the last quarter. 63.69% of the stock is owned by hedge funds and other 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.