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VTEX (VTEX) Received its Third Buy in a Row

After Credit Suisse and Goldman Sachs gave VTEX (NYSE: VTEX) a Buy rating last month, the company received another Buy, this time from KeyBanc. Analyst Josh Beck maintained a Buy rating on VTEX today and set a price target of $8.00. The company’s shares closed last Thursday at $4.54, close to its 52-week low of $4.41.

According to TipRanks.com, Beck is a 5-star analyst with an average return of 16.2% and a 56.8% success rate. Beck covers the Technology sector, focusing on stocks such as Fidelity National Info, BigCommerce Holdings, and AvidXchange Holdings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for VTEX with a $9.20 average price target, representing a 104.9% upside. In a report issued on April 29, Credit Suisse also upgraded the stock to Buy with a $8.00 price target.

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Based on VTEX’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $37.12 million and GAAP net loss of $10.63 million. In comparison, last year the company earned revenue of $29.11 million and had a GAAP net loss of $4.27 million.

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Vtex provides a 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. It generates maximum revenues from Brazil followed by Latin America and the rest of the world.

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