VTEX (NYSE:VTEX) Upgraded at Wall Street Zen

Key Points

• VTEX has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, reflecting positive analyst sentiment towards the stock.
• Analysts have varied opinions on VTEX's price objectives, with Citigroup targeting $10.00 and JPMorgan lowering its objective to $6.00, resulting in an average target price of $8.33.
• Many institutional investors have increased their holdings in VTEX, indicating increased confidence in the company's prospects, with approximately 63.69% of the stock currently owned by these entities.

VTEX (NYSE:VTEX - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

VTEX has been the topic of a number of other research reports. Citigroup started coverage on shares of VTEX in a research report on Monday, June 23rd. They issued a "buy" rating and a $10.00 price objective on the stock. UBS Group cut their price objective on shares of VTEX from $11.00 to $10.00 and set a "buy" rating on the stock in a research report on Friday, June 13th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $6.00 price objective (down previously from $7.50) on shares of VTEX in a research report on Friday, August 8th. Finally, Jefferies Financial Group started coverage on shares of VTEX in a research report on Thursday, May 22nd. They issued a "hold" rating and a $7.30 price objective on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $8.33.

VTEX Trading Up 3.0%

NYSE:VTEX opened at $4.08 on Friday. VTEX has a one year low of $3.93 and a one year high of $8.03. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.39 and a current ratio of 3.31. The firm has a market cap of $745.82 million, a P/E ratio of 51.01 and a beta of 1.34. The firm has a 50-day simple moving average of $6.09 and a 200-day simple moving average of $5.76.

VTEX (NYSE:VTEX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. VTEX had a net margin of 5.80% and a return on equity of 5.27%. The business had revenue of $58.80 million during the quarter, compared to analyst estimates of $60.35 million. Equities analysts anticipate that VTEX will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On VTEX

A number of hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. grew its holdings in shares of VTEX by 6.4% in the second quarter. Envestnet Asset Management Inc. now owns 36,156 shares of the company's stock valued at $239,000 after purchasing an additional 2,169 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of VTEX by 15.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,712 shares of the company's stock valued at $157,000 after purchasing an additional 3,644 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of VTEX by 6.4% in the second quarter. Public Employees Retirement System of Ohio now owns 89,279 shares of the company's stock valued at $589,000 after purchasing an additional 5,376 shares during the period. Point72 Asset Management L.P. grew its holdings 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 valued at $190,000 after purchasing an additional 5,845 shares during the period. Finally, Ameritas Investment Partners Inc. purchased a new stake in shares of VTEX in the second quarter valued at about $39,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

VTEX Company Profile

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.

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