The Zhitong Finance App learned that Needham analyst JoshuaReilly published a research report saying that the target price of Vertex (VERX.US) was raised from 19 US dollars to 25 US dollars, and that the company's “buy” rating was maintained. The analyst said that Vertex's performance in the fourth quarter was “steady”. Recurring revenue exceeded market expectations, but it did not receive any substantial benefit from customer overspending. Joshua said Vertex's net direct customer growth was strong this quarter as the broader partner ecosystem, including Workday (WDAY.US), CRM.US, and Microsoft (MSFT.US), is making a solid contribution to the industry's net growth of new customers.