VTEX

VTEX · NYSE

$4.17+$0.00 (+0.00%)TodayMarket closed · Oct 23, 7:54 PM ET

Prev close $4.17

VTEX analyst rating

HoldConsensus of 4 analysts over the last 12 months. 25% rate it a buy.

Strong buy0
Buy1
Hold3
Underperform0
Sell0

12-month price target · 11 analysts

Average $5.86 (+40.5% upside)

Low: $4.04
Now: $4.17
High: $12.60

Upgrades and downgrades

The latest rating actions, newest first

VTEX analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Itau BBA	Aug 25, 2026	Downgrade	Outperform → Market Perform	$4.50	100%
UBS	May 8, 2026	Maintains	Neutral	$4.00 → $4.10	30%
Banco Bradesco BBI S.A	Mar 11, 2026	Upgrade	Neutral → Outperform	$5.00	25%
UBS	Jan 15, 2026	Downgrade	Buy → Neutral	$8.00 → $4.00	30%
JP Morgan	Nov 10, 2025	Maintains	Neutral	$6.00 → $5.00	0%

The case for and against

Updated Aug 28, 2024

Bull case

Vtex demonstrates a robust growth trajectory, achieving 25% year-over-year FXN revenue growth and 28% FXN GMV growth in Q3, marking a continuation of its acceleration in growth rates for four consecutive quarters. The company has raised its revenue guidance for FY23 to a range of 22-23% FXN growth, supported by strong performances from existing merchants and the successful onboarding of new ones, resulting in $4.0 billion in GMV. Additionally, Vtex is on track for margin expansion, with non-GAAP operating income reaching expectations ahead of schedule and guidance for FY24 indicating continued growth and improved operating and free cash flow margins.

Bear case

The negative outlook on Vtex's stock is primarily driven by the anticipated impact of recent devaluation in the Argentinian currency, which is expected to result in a mid-single-digit percentage headwind to USD revenue growth and a similar operating margin impact in 2024. Despite the company's guidance indicating a trajectory toward sustainable growth and profitability expansion, the currency devaluation poses significant financial challenges that could hinder its performance. Additionally, the heavy reliance on Brazil and Latin America heightens the risk associated with regional economic fluctuations, further complicating the company’s growth prospects.

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