VTEX (NYSE:VTEX) Given New $9.00 Price Target at JPMorgan Chase & Co.

VTEX (NYSE:VTEX) had its price objective reduced by JPMorgan Chase & Co. from $9.50 to $9.00 in a research note issued to investors on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

VTEX has been the subject of a number of other research reports. Citigroup assumed coverage on shares of VTEX in a research report on Thursday, December 5th. They set a “neutral” rating and a $6.70 target price for the company. UBS Group decreased their price objective on shares of VTEX from $12.50 to $11.00 and set a “buy” rating for the company in a research report on Friday, December 20th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $9.74.

VTEX Stock Performance

Shares of NYSE VTEX opened at $5.89 on Friday. The firm has a 50 day moving average price of $6.22 and a two-hundred day moving average price of $6.71. The stock has a market cap of $1.08 billion, a P/E ratio of 98.18 and a beta of 1.33. VTEX has a 52-week low of $5.60 and a 52-week high of $9.59.

VTEX (NYSE:VTEX) last announced its earnings results on Tuesday, November 5th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. VTEX had a return on equity of 3.60% and a net margin of 3.97%. The business had revenue of $56.00 million during the quarter, compared to analyst estimates of $57.20 million. During the same period last year, the company earned ($0.01) EPS. VTEX’s revenue for the quarter was up 10.6% compared to the same quarter last year. Analysts predict that VTEX will post 0.09 earnings per share for the current fiscal year.

Institutional Trading of VTEX

Several large investors have recently modified their holdings of the stock. Quarry LP grew its holdings in VTEX by 105.7% in the third quarter. Quarry LP now owns 3,637 shares of the company’s stock worth $27,000 after purchasing an additional 1,869 shares during the period. Barclays PLC bought a new position in shares of VTEX during the 3rd quarter worth about $35,000. MQS Management LLC acquired a new stake in shares of VTEX in the 3rd quarter valued at about $91,000. Dynamic Technology Lab Private Ltd bought a new stake in VTEX in the 3rd quarter valued at about $134,000. Finally, Quadrature Capital Ltd acquired a new position in VTEX during the 3rd quarter worth approximately $165,000. Institutional investors and hedge funds 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.