Strategic Google Pay Partnership Strengthens VTEX's International Expansion Prospects, Says Analyst
Portfolio Pulse from Nabaparna Bhattacharya
DA Davidson analyst Franco Granda reiterated a Buy rating on VTEX (NYSE:VTEX) and raised the price target to $5.50 from $5.00. Granda believes VTEX is well set for a solid 2H and applauds the company's strategic partnership with Google Pay, which strengthens its international expansion prospects.
June 23, 2023 | 7:06 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
DA Davidson analyst Franco Granda raised the price target for VTEX (NYSE:VTEX) to $5.50 and reiterated a Buy rating, citing strong 2H prospects and a strategic partnership with Google Pay.
The analyst's positive outlook on VTEX's 2H performance and the strategic partnership with Google Pay, which enables over three thousand global e-commerce companies to incorporate the 'Pay with Google Pay' button, are likely to have a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100