JPMorgan Chase & Co. Lowers VTEX (NYSE:VTEX) Price Target to $6.50

VTEX (NYSE:VTEX - Free Report) had its price objective lowered by JPMorgan Chase & Co. from $9.00 to $6.50 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Separately, UBS Group lowered their target price 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.

VTEX Stock Performance

Shares of VTEX stock traded up $0.13 during trading hours on Tuesday, hitting $5.00. The company's stock had a trading volume of 523,903 shares, compared to its average volume of 601,161. The stock has a market cap of $913.08 million, a price-to-earnings ratio of 83.26 and a beta of 1.30. VTEX has a twelve month low of $4.20 and a twelve month high of $8.24. The firm has a fifty day moving average of $5.12 and a 200-day moving average of $5.97.

Institutional Investors Weigh In On VTEX

Several institutional investors and hedge funds have recently modified their holdings of VTEX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of VTEX by 15.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,712 shares of the company's stock worth $157,000 after purchasing an additional 3,644 shares in the last quarter. Barclays PLC acquired a new stake in VTEX during the 3rd quarter worth approximately $35,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in VTEX in the 4th quarter valued at approximately $33,000. Point72 Asset Management L.P. grew its stake in shares of VTEX by 22.2% in the fourth quarter. Point72 Asset Management L.P. now owns 32,200 shares of the company's stock worth $190,000 after acquiring an additional 5,845 shares in the last quarter. Finally, Employees Retirement System of Texas increased its position in shares of VTEX by 15.1% during the fourth quarter. Employees Retirement System of Texas now owns 52,238 shares of the company's stock worth $308,000 after acquiring an additional 6,836 shares during the period. Hedge funds and other institutional investors 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.