7 Best Debt Free Stocks To Buy

4. VTEX (NYSE:VTEX)

Market Cap as of 16/08/2024: $1.36 Billion

Enterprise Value: $1.15 Billion

Upside Potential: 60.35%

VTEX (NYSE:VTEX) is a technology company that provides software as a service digital commerce platform for enterprise brands and retailers. It offers a platform that allows customers to execute their commerce strategy in online stores. It stands fourth on our list of best debt-free stocks to buy, given its low debt level of about $3 million.

VTEX (NYSE:VTEX) is already up by about 7% for the year, with an enterprise value of about $1.15 billion, a market cap of about $1.36 billion, and a small debt of $3.08 million. The rally comes at the backdrop of the company delivering solid Q2 results, where revenues were up 18% yearly to $56.50 million, beating estimates of $56.45 million. Earnings came in at $0.03 a share compared to a loss of $0.04 a share delivered a year ago.

VTEX (NYSE:VTEX) continues to see strong sales momentum in welcoming new customers in Australia, Brazil, Mexico, Portugal, and the US, among other countries. VTEX’s growth strategy is progressing by eight straight quarters of year-over-year operating margin growth in the double digits while maintaining a fast-paced growth trajectory. The VTEX Platform’s global competitive standing is strengthened amid product lineup improvements.

The average price target on the stock is $11, implying a 60.35% upside potential from current trading levels. According to Insider Monkey, 11 hedge funds out of 920 tracked held stakes in VTEX (NYSE:VTEX) as of the end of Q1 2024.