VTEX (NYSE:VTEX) Shares Gap Up to $6.61

VTEX (NYSE:VTEX) shares gapped up prior to trading on Wednesday . The stock had previously closed at $6.61, but opened at $6.77. VTEX shares last traded at $6.77, with a volume of 3,774 shares.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. upped their price objective on shares of VTEX from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $10.40.

VTEX Stock Performance

The business has a fifty day moving average of $6.88 and a 200-day moving average of $7.31. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.61 and a current ratio of 3.61.

VTEX (NYSE:VTEX) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. The firm had revenue of $56.50 million for the quarter, compared to the consensus estimate of $56.45 million. VTEX had a net margin of 1.51% and a return on equity of 1.36%. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.04) earnings per share. As a group, research analysts expect that VTEX will post 0.06 EPS for the current year.

Institutional Investors Weigh In On VTEX

A number of institutional investors and hedge funds have recently made changes to their positions in the business. nVerses Capital LLC purchased a new stake in shares of VTEX in the 2nd quarter valued at about $40,000. Bayesian Capital Management LP purchased a new stake in VTEX in the first quarter valued at approximately $83,000. Absolute Gestao de Investimentos Ltda. bought a new stake in VTEX during the first quarter valued at approximately $135,000. Lazard Asset Management LLC grew its stake in VTEX by 52.3% in the 1st quarter. Lazard Asset Management LLC now owns 20,783 shares of the company’s stock worth $169,000 after buying an additional 7,138 shares in the last quarter. Finally, Employees Retirement System of Texas increased its holdings in shares of VTEX by 16.3% in the 2nd quarter. Employees Retirement System of Texas now owns 26,212 shares of the company’s stock worth $190,000 after buying an additional 3,668 shares during the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

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.