VTEX (NYSE:VTEX) Shares Gap Up on Earnings Beat

VTEX (NYSE:VTEX)’s share price gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $6.02, but opened at $7.30. VTEX shares last traded at $6.97, with a volume of 105,698 shares traded.

The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. The business had revenue of $56.50 million during the quarter, compared to the consensus estimate of $56.45 million. VTEX had a negative return on equity of 3.32% and a negative net margin of 3.87%. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.04) earnings per share.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. raised VTEX from a “neutral” rating to an “overweight” rating and set a $9.00 target price on the stock in a research note on Tuesday, May 14th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $10.20.

Institutional Investors Weigh In On VTEX

A number of institutional investors have recently modified their holdings of the stock. nVerses Capital LLC purchased a new stake in shares of VTEX during the second quarter valued at $40,000. Bayesian Capital Management LP purchased a new stake in shares of VTEX during the first quarter valued at $83,000. New York State Common Retirement Fund purchased a new stake in shares of VTEX during the fourth quarter valued at $99,000. Absolute Gestao de Investimentos Ltda. purchased a new stake in shares of VTEX during the first quarter valued at $135,000. Finally, Baader Bank Aktiengesellschaft purchased a new stake in shares of VTEX during the fourth quarter valued at $138,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

VTEX Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 3.42 and a quick ratio of 3.42. The company has a market capitalization of $1.26 billion, a PE ratio of -174.75 and a beta of 1.37. The firm has a 50-day moving average of $6.78 and a 200 day moving average of $7.47.

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.