Procore stock price target raised to $90 from Goldman Sachs on stabilizing growth
Investing.com - BMO Capital has reduced its price target on Vertex (NASDAQ:VRTX) to $24.00 from $30.00 while maintaining a Market Perform rating on the financial software company.
The firm cited "greater near-term complexity" in its analysis, noting that Vertex’s third-quarter results revealed challenges across multiple growth areas that are collectively reducing annual recurring revenue growth by several percentage points.
BMO Capital believes some of Vertex’s current challenges are cyclical in nature, while opportunities in areas such as e-invoicing will require strong execution from the company’s management team.
The investment firm has cut its fiscal year 2026 growth outlook for Vertex, suggesting that the company’s previously announced framework for growth re-acceleration by 2028 now appears more difficult to achieve.
BMO Capital also highlighted that fourth-quarter results could serve as an important catalyst for gauging the business trajectory under Vertex’s incoming new CEO.
In other recent news, Vertex Pharmaceuticals reported impressive third-quarter results for 2025, surpassing analysts’ expectations. The company achieved an earnings per share (EPS) of $4.80, which was higher than the forecasted $4.57, resulting in a 5.03% surprise. Additionally, Vertex’s revenue reached $3.08 billion, slightly above the anticipated $3.05 billion. These figures have contributed to a positive outlook among investors regarding the company’s performance. However, Bernstein has lowered its price target for Vertex stock to $466 from $471, while maintaining a Market Perform rating. The revised price target reflects updated estimates and a slight adjustment to the firm’s price-to-earnings multiple. Bernstein cited increased uncertainty regarding the ramp-up for Alyftrek and Journavx as reasons for the adjustment. These developments provide insight into Vertex’s current financial standing and future challenges.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.