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

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

Wall Street Analysts Forecast Growth

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

VTEX Stock Performance

The firm has a market capitalization of $945.32 million, a P/E ratio of 85.26 and a beta of 1.41. The firm has a 50 day simple moving average of $5.66 and a two-hundred day simple moving average of $6.23.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of VTEX in the 3rd quarter worth approximately $134,000. Janus Henderson Group PLC boosted its position in shares of VTEX by 2,128.1% in the third quarter. Janus Henderson Group PLC now owns 558,216 shares of the company’s stock valued at $4,144,000 after acquiring an additional 533,163 shares during the period. Itau Unibanco Holding S.A. bought a new stake in VTEX during the 3rd quarter worth approximately $2,518,000. Point72 Asset Management L.P. purchased a new stake in VTEX in the 3rd quarter worth approximately $196,000. Finally, Petrus Trust Company LTA boosted its holdings in VTEX by 129.8% in the 3rd quarter. Petrus Trust Company LTA now owns 135,156 shares of the company’s stock valued at $1,006,000 after purchasing an additional 76,338 shares during the period. 63.69% of the stock is currently owned by hedge funds and other 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.