JPMorgan Chase & Co. Cuts VTEX (NYSE:VTEX) Price Target to $9.00

VTEX (NYSE:VTEX - Get Free Report) had its price target lowered by stock analysts at JPMorgan Chase & Co. from $9.50 to $9.00 in a research report issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 52.80% from the stock's previous close.

Several other analysts have also recently weighed in on VTEX. UBS Group reduced 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. Citigroup initiated coverage on shares of VTEX in a research report on Thursday, December 5th. They issued a "neutral" rating and a $6.70 price target for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, VTEX currently has a consensus rating of "Moderate Buy" and an average price target of $9.74.

VTEX Price Performance

NYSE:VTEX traded down $0.06 during mid-day trading on Friday, reaching $5.89. The stock had a trading volume of 594,006 shares, compared to its average volume of 613,034. VTEX has a 12 month low of $5.60 and a 12 month high of $9.59. The stock has a market capitalization of $1.08 billion, a PE ratio of 98.18 and a beta of 1.33. The stock has a 50-day simple moving average of $6.22 and a two-hundred day simple moving average of $6.71.

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

Institutional Investors Weigh In On VTEX

A number of institutional investors have recently modified their holdings of VTEX. Quarry LP lifted its holdings in 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 buying an additional 1,869 shares during the period. Employees Retirement System of Texas grew its stake in VTEX by 16.3% during the second quarter. Employees Retirement System of Texas now owns 26,212 shares of the company's stock worth $190,000 after purchasing an additional 3,668 shares during the period. Barclays PLC acquired a new position in VTEX in the third quarter valued at approximately $35,000. MQS Management LLC bought a new position in shares of VTEX during the 3rd quarter worth approximately $91,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of VTEX during the 3rd quarter worth approximately $134,000. 63.69% of the stock is owned by 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.