VTEX (NYSE:VTEX) Shares Gap Up After Better-Than-Expected Earnings

Shares of VTEX (NYSE:VTEX - Get Free Report) gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $5.50, but opened at $5.85. VTEX shares last traded at $5.99, with a volume of 487,833 shares changing hands.

The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.01) by $0.02. The company had revenue of $54.20 million for the quarter, compared to the consensus estimate of $52.81 million. VTEX had a net margin of 3.97% and a return on equity of 3.60%.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. cut their price objective on shares of VTEX from $9.00 to $6.50 and set an "overweight" rating for the company in a report on Tuesday, April 15th.

Institutional Trading of VTEX

Several large investors have recently added to or reduced their stakes in VTEX. JPMorgan Chase & Co. boosted its holdings in VTEX by 31.3% in the third quarter. JPMorgan Chase & Co. now owns 490,234 shares of the company's stock worth $3,647,000 after acquiring an additional 116,895 shares in the last quarter. EntryPoint Capital LLC bought a new position in VTEX in the 4th quarter worth $446,000. Sei Investments Co. lifted its position in shares of VTEX by 50.4% during the 4th quarter. Sei Investments Co. now owns 280,193 shares of the company's stock valued at $1,650,000 after buying an additional 93,873 shares in the last quarter. Verde Servicos Internacionais S.A. bought a new position in shares of VTEX in the fourth quarter worth approximately $412,000. Finally, AMS Capital Ltda increased its stake in VTEX by 54.4% in the 4th quarter. AMS Capital Ltda now owns 1,121,473 shares of the company's stock worth $6,605,000 after buying an additional 395,030 shares in the last quarter. Institutional investors own 63.69% of the company's stock.

VTEX Trading Down 2.0 %

The firm has a 50 day moving average of $5.01 and a 200-day moving average of $5.81. The company has a market cap of $1.09 billion, a P/E ratio of 99.18 and a beta of 1.29.

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.