VTEX (NYSE:VTEX) Trading 6.9% Higher – Time to Buy?

VTEX (NYSE:VTEX)’s share price shot up 6.9% on Thursday . The stock traded as high as $5.26 and last traded at $5.20. 101,665 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 564,155 shares. The stock had previously closed at $4.86.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on VTEX. UBS Group reduced their price objective on VTEX from $12.50 to $11.00 and set a “buy” rating for the company in a report on Friday, December 20th. JPMorgan Chase & Co. lowered their price objective on VTEX from $9.50 to $9.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Finally, Citigroup began coverage on shares of VTEX in a research report on Thursday, December 5th. They issued a “neutral” rating and a $6.70 target price for the company.

VTEX Stock Down 1.3 %

The stock has a market capitalization of $945.32 million, a price-to-earnings ratio of 85.26 and a beta of 1.41. The business’s 50 day simple moving average is $5.66 and its 200-day simple moving average is $6.23.

Institutional Investors Weigh In On VTEX

Several hedge funds and other institutional investors have recently made changes to their positions in VTEX. Quarry LP increased its holdings in shares of VTEX by 105.7% during the third quarter. Quarry LP now owns 3,637 shares of the company’s stock worth $27,000 after buying an additional 1,869 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in VTEX in the fourth quarter valued at $33,000. Barclays PLC bought a new position in VTEX during the 3rd quarter worth $35,000. State of Wyoming bought a new stake in shares of VTEX in the 4th quarter valued at about $45,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of VTEX in the fourth quarter worth approximately $59,000. 63.69% of the stock is 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.