JPMorgan Downgrades VTEX (VTEX) to Neutral

JPMorgan analyst Marcelo Santos downgraded VTEX (NYSE: VTEX) from Overweight to Neutral with a price target of $6.00 (from $7.50).

The analyst comments: "VTEX reported weak growth in 2Q25, with subscription revenue up 11.2% y/y FXN, below the 12.5%-15.5% guidance, due to deterioration in Argentina and Brazil. This prompted the company to reduce its 2025 growth guidance to 9%-12%, down from 14-17%, which was already a soft outlook. On the positive side, margins came in ahead of our expectations, and margin guidance was increased. Nonetheless, we see the growth component as very important for the VTEX case, and given the weak performance expected for the coming quarters and low visibility for 2026, we downgrade VTEX to Neutral, and establish a Dec-26 PT of $6 (vs Dec-25 PT of $7.5 previously)."

For an analyst ratings summary and ratings history on VTEX click here. For more ratings news on VTEX click here.

Shares of VTEX closed at $5.92 yesterday.

You May Also Be Interested In

• Goldman Sachs Upgrades New Oriental Education (EDU) to Buy
• TD Synnex (SNX) PT Raised to $300 at Goldman Sachs
• Copa Holdings reports 17% increase in May passenger traffic