Vtex initiated with a Buy at Goldman Sachs

Goldman Sachs initiated coverage of Vtex (VTEX) with a Buy rating and $5.30 price target The stock is down 28% year-to-date following below-consensus guidance updates, but while this reduces visibility on fundamentals, risk-reward on Vtex shares skews positive, the analyst tells investors in a research note. Goldman adds that the cost-cutting initiatives have supported margins in past years, and the firm believes that the continued focus on this front can drive further progress in free cash flow, further noting that the valuation on the stock is reasonable if its free cash flow forecasts are met.