JPMorgan Chase & Co. Has Lowered Expectations for VTEX (NYSE:VTEX) Stock Price

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

Other equities analysts have also recently issued reports about the company. UBS Group decreased their price target on VTEX from $12.50 to $11.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Citigroup began coverage on VTEX in a research report on Thursday, December 5th. They issued a “neutral” rating and a $6.70 price objective on the stock. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, VTEX has a consensus rating of “Moderate Buy” and a consensus target price of $9.74.

VTEX Stock Down 1.0 %

NYSE:VTEX opened at $5.89 on Friday. The business’s 50-day moving average price is $6.22 and its two-hundred day moving average price is $6.71. VTEX has a twelve month low of $5.60 and a twelve month high of $9.59. The stock has a market cap of $1.08 billion, a P/E ratio of 98.18 and a beta of 1.33.

VTEX (NYSE:VTEX) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. The company had revenue of $56.00 million for the quarter, compared to analysts’ expectations of $57.20 million. VTEX had a return on equity of 3.60% and a net margin of 3.97%. VTEX’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) EPS. On average, equities research analysts expect that VTEX will post 0.09 EPS for the current fiscal year.

Institutional Investors Weigh In On VTEX

Several hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in shares of VTEX by 31.3% during the third quarter. JPMorgan Chase & Co. now owns 490,234 shares of the company’s stock valued at $3,647,000 after purchasing an additional 116,895 shares in the last quarter. Barclays PLC purchased a new position in shares of VTEX in the third quarter worth $35,000. Public Employees Retirement System of Ohio purchased a new position in shares of VTEX in the third quarter worth $373,000. Main Management ETF Advisors LLC purchased a new position in shares of VTEX in the third quarter worth $958,000. Finally, XTX Topco Ltd purchased a new position in shares of VTEX in the third quarter worth $660,000. 63.69% of the stock is currently owned by 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.