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

VTEX (NYSE:VTEX) 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.

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On VTEX

Several hedge funds and other institutional investors have recently modified their holdings of VTEX. Fourth Sail Capital LP bought a new position in VTEX in the 4th quarter worth about $22,122,000. Absoluto Partners Gestao de Recursos Ltda bought a new position in VTEX in the 4th quarter worth approximately $7,899,000. Acadian Asset Management LLC grew its holdings in VTEX by 242.4% in the 1st quarter. Acadian Asset Management LLC now owns 1,373,698 shares of the company’s stock worth $11,192,000 after buying an additional 972,534 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in VTEX by 153.4% in the 1st quarter. Russell Investments Group Ltd. now owns 913,774 shares of the company’s stock worth $7,468,000 after buying an additional 553,193 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in VTEX by 1,856.3% in the 1st quarter. Sei Investments Co. now owns 247,869 shares of the company’s stock worth $2,025,000 after buying an additional 235,199 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

VTEX Price Performance

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

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.