VTEX (NYSE:VTEX) Stock Price Up 4.3% – Time to Buy?

VTEX (NYSE:VTEX) was up 4.3% during mid-day trading on Thursday . The company traded as high as $6.04 and last traded at $6.03. Approximately 152,517 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 489,938 shares. The stock had previously closed at $5.78.

Analysts Set New Price Targets

Several research analysts have recently commented on VTEX shares. Citigroup began coverage on VTEX in a research report on Thursday, December 5th. They set a “neutral” rating and a $6.70 price target for the company. UBS Group cut their price target on shares of VTEX from $12.50 to $11.00 and set a “buy” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, VTEX presently has an average rating of “Moderate Buy” and a consensus price target of $9.62.

VTEX Stock Performance

The stock’s 50-day simple moving average is $6.51 and its 200 day simple moving average is $6.80. The company has a market capitalization of $1.05 billion, a PE ratio of 94.68 and a beta of 1.34.

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

Hedge Funds Weigh In On VTEX

A number of hedge funds have recently modified their holdings of VTEX. Quarry LP increased its holdings in shares of VTEX by 105.7% in the third quarter. Quarry LP now owns 3,637 shares of the company’s stock valued at $27,000 after purchasing an additional 1,869 shares during the period. Barclays PLC acquired a new position in VTEX in the 3rd quarter valued at $35,000. nVerses Capital LLC acquired a new stake in shares of VTEX in the 2nd quarter worth $40,000. MQS Management LLC purchased a new stake in shares of VTEX in the third quarter valued at about $91,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of VTEX during the third quarter worth about $134,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

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.