VTEX (NYSE:VTEX) Price Target Cut to $10.00 by Analysts at UBS Group

VTEX (NYSE:VTEX) had its price objective decreased by UBS Group from $11.00 to $10.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price objective suggests a potential upside of 53.59% from the stock’s current price.

VTEX has been the subject of several other research reports. Jefferies Financial Group assumed coverage on shares of VTEX in a report on Thursday, May 22nd. They set a “hold” rating and a $7.30 price objective for the company. Wall Street Zen raised shares of VTEX from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Finally, JPMorgan Chase & Co. increased their price target on shares of VTEX from $6.50 to $7.50 and gave the company an “overweight” rating in a report on Tuesday, May 27th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $7.88.

VTEX Stock Down 2.4%

Shares of NYSE VTEX opened at $6.51 on Friday. VTEX has a twelve month low of $4.20 and a twelve month high of $8.03. The firm has a market cap of $1.19 billion, a P/E ratio of 108.53 and a beta of 1.36. The company has a 50 day moving average of $5.78 and a 200 day moving average of $5.78.

VTEX (NYSE:VTEX) last posted its earnings results on Tuesday, May 6th. The company reported $0.01 EPS for the quarter, topping 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 business had revenue of $54.20 million during the quarter, compared to the consensus estimate of $52.81 million. As a group, equities analysts expect that VTEX will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On VTEX

Institutional investors have recently bought and sold shares of the business. Softbank Group CORP. boosted its stake in VTEX by 93.4% in the fourth quarter. Softbank Group CORP. now owns 38,434,587 shares of the company’s stock valued at $226,380,000 after acquiring an additional 18,559,399 shares in the last quarter. Millennium Management LLC boosted its stake in VTEX by 371.2% in the fourth quarter. Millennium Management LLC now owns 2,599,366 shares of the company’s stock valued at $15,310,000 after acquiring an additional 2,047,671 shares in the last quarter. Nuveen LLC acquired a new stake in shares of VTEX during the first quarter worth $7,016,000. Polar Capital Holdings Plc lifted its stake in shares of VTEX by 21.8% during the fourth quarter. Polar Capital Holdings Plc now owns 5,229,168 shares of the company’s stock worth $30,800,000 after buying an additional 936,551 shares during the period. Finally, Nuveen Asset Management LLC lifted its position in VTEX by 1,082.4% during the fourth quarter. Nuveen Asset Management LLC now owns 876,508 shares of the company’s stock valued at $5,163,000 after purchasing an additional 802,381 shares during the period. 63.69% of the stock is owned by hedge funds and other institutional investors.

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.