Piper Sandler starts coverage on VTEX with 'overweight' rating

Vtex

18/01/2022 10:36

** Piper Sandler starts coverage on software-as-a-service
digital commerce platform  VTEX.N  with 'overweight' rating
    ** Brokerage sets PT of $13, implying an upside of ~71.5% on
stock's last close 
    ** Piper Sandler says it expects co to benefit from growth
of online commerce in LATAM market 
    ** Says co has attracted leading blue-chip companies as
customers including Adidas, Samsung, Unilever and Nestle 
    ** Five of seven brokerages rate the stock "buy", two
"hold"; their median PT is $23 - Refinitiv data
    ** Co went public in U.S. in July last year, fetching a
valuation of $4.7 bln in its NYSE debut  urn:newsml:reuters.com:*:nL4N2OX333
    ** Up to Friday's close, VTEX down ~69.8% from opening price
in its IPO; stock down 29.29% YTD

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com;))