Stifel analyst Brad Reback maintains $Vertex (VERX.US)$ with a buy rating, and maintains the target price at $52.
According to TipRanks data, the analyst has a success rate of 55.5% and a total average return of 12.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Vertex (VERX.US)$'s main analysts recently are as follows:
Following robust third-quarter results, there is an expectation of continued tailwinds arising from an emerging super-cycle of Cloud ERP upgrades and global e-invoicing regulations. This positions the company well to maintain consistent mid-teens revenue growth along with enhanced profitability.
The company showcased strong performance with better-than-expected results in subscription revenue and EBITDA. This was slightly balanced by predictable growth in core annual recurring revenue and the number of new customers. It has been noted that the company's potential to achieve mid/high-teens growth with limited customer expansion was previously underestimated.
Vertex recorded a robust quarter marked by surpassing revenue and profit expectations, as well as an uplift in the full-year forecast. Even when taking into account the recent acquisition of ecosio, the revenue projections for 2024 have been revised upward.
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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