Jefferies analyst Samad Samana maintains $Vertex (VERX.US)$ with a buy rating, and maintains the target price at $60.
According to TipRanks data, the analyst has a success rate of 49.9% and a total average return of 5.0% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Vertex (VERX.US)$'s main analysts recently are as follows:
Following Vertex's robust third-quarter performance, it's anticipated that continued momentum from an emerging Cloud ERP upgrade wave and global e-invoicing regulations will provide sustained tailwinds for the company. This is expected to position Vertex for a consistent mid-teens revenue growth and an enhancement in profitability.
The company showcased impressive results, surpassing expectations with its Q3 earnings, particularly in subscription revenue and EBITDA. This performance was slightly balanced by the anticipated growth in core annual recurring revenue and the number of customer additions. It was noted that the company's potential to achieve mid to high teens growth with limited customer expansion was previously undervalued.
Analysts noted that Vertex delivered a robust quarter, highlighted by a revenue and profit surpassing expectations and an elevated full-year guidance. Even considering the recent acquisition of ecosio, the outlook for 2024 revenue was adjusted upwards.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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