VTEX (NYSE:VTEX) Shares Gap Up After Earnings Beat

Shares of VTEX (NYSE:VTEX - Get Free Report) gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. 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 for the quarter, beating analysts' consensus estimates of ($0.01) by $0.02. VTEX had a net margin of 3.97% and a return on equity of 3.60%. The firm had revenue of $54.20 million during the quarter, compared to the consensus estimate of $52.81 million.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On VTEX

A number of hedge funds have recently made changes to their positions in VTEX. Softbank Group CORP. grew its position in shares of VTEX by 93.4% during the 4th quarter. Softbank Group CORP. now owns 38,434,587 shares of the company's stock worth $226,380,000 after buying an additional 18,559,399 shares during the period. Polar Capital Holdings Plc grew its stake in shares of VTEX by 21.8% in the fourth quarter. Polar Capital Holdings Plc now owns 5,229,168 shares of the company's stock valued at $30,800,000 after acquiring an additional 936,551 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of VTEX by 371.2% in the fourth quarter. Millennium Management LLC now owns 2,599,366 shares of the company's stock worth $15,310,000 after acquiring an additional 2,047,671 shares during the last quarter. AMS Capital Ltda lifted its holdings in shares of VTEX by 51.5% in the first quarter. AMS Capital Ltda now owns 1,699,053 shares of the company's stock worth $8,614,000 after acquiring an additional 577,580 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its stake in shares of VTEX by 7.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,463,925 shares of the company's stock valued at $8,623,000 after buying an additional 106,920 shares during the period. Institutional investors and hedge funds own 63.69% of the company's stock.

VTEX Trading Up 3.7%

The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 102.68 and a beta of 1.29. The business's 50-day simple moving average is $5.01 and its two-hundred day simple moving average is $5.80.

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.