VTEX (NYSE:VTEX) Shares Gap Down to $6.70

VTEX (NYSE:VTEX) shares gapped down before the market opened on Tuesday . The stock had previously closed at $6.70, but opened at $6.55. VTEX shares last traded at $6.55, with a volume of 88,791 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. raised their price target on VTEX from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $10.40.

VTEX Price Performance

The stock has a market cap of $1.23 billion, a P/E ratio of -167.50 and a beta of 1.39. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.61 and a current ratio of 3.61. The firm has a 50-day moving average price of $6.92 and a 200-day moving average price of $7.35.

VTEX (NYSE:VTEX) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.04. The business had revenue of $56.50 million during the quarter, compared to analyst estimates of $56.45 million. VTEX had a return on equity of 1.36% and a net margin of 1.51%. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.04) earnings per share. On average, analysts forecast that VTEX will post 0.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On VTEX

A number of institutional investors and hedge funds have recently made changes to their positions in VTEX. Fourth Sail Capital LP grew its stake in shares of VTEX by 125.0% in the 2nd quarter. Fourth Sail Capital LP now owns 3,098,762 shares of the company’s stock worth $22,497,000 after buying an additional 1,721,568 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of VTEX by 23.0% in the 2nd quarter. Acadian Asset Management LLC now owns 1,689,205 shares of the company’s stock worth $12,233,000 after purchasing an additional 315,507 shares during the last quarter. American Century Companies Inc. boosted its stake in VTEX by 34.1% in the 2nd quarter. American Century Companies Inc. now owns 1,329,824 shares of the company’s stock worth $9,655,000 after purchasing an additional 338,527 shares in the last quarter. Absoluto Partners Gestao de Recursos Ltda purchased a new stake in VTEX during the 4th quarter valued at about $7,899,000. Finally, Renaissance Technologies LLC grew its position in VTEX by 15.9% during the 2nd quarter. Renaissance Technologies LLC now owns 938,800 shares of the company’s stock valued at $6,816,000 after purchasing an additional 129,100 shares during the last quarter. Institutional investors own 63.69% of the company’s stock.

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.