Goldman Sachs analyst Adam Hotchkiss maintains $Vertex (VERX.US)$ with a buy rating, and sets the target price at $59.
According to TipRanks data, the analyst has a success rate of 75.6% and a total average return of 19.9% 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 performance, expectations are set for continued benefits from an emerging ERP upgrade 'super-cycle' and increased global e-invoicing regulations. This scenario is seen as positioning the company to maintain steady, mid-teens revenue growth along with enhanced profitability.
Vertex demonstrated robust performance with its Q3 earnings surpassing expectations, driven by a rise in subscription revenue and EBITDA. This was slightly counterbalanced by the anticipated growth in core annual recurring revenue and the number of new customers. Analysts acknowledge underestimating Vertex's potential to achieve mid to high-teens growth with limited expansion in its customer base.
The firm has acknowledged Vertex for reporting a robust quarter that surpassed revenue and profit expectations, coupled with an uplift in the full-year guidance. This positive outlook persists even when considering the recent acquisition of ecosio.
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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