Procore stock price target raised to $90 from Goldman Sachs on stabilizing growth
Investing.com - Citizens lowered its price target on Vertex Inc. (NASDAQ:VERX) to $37.00 from $50.00 on Tuesday, while maintaining a Market Outperform rating following the company’s mixed third-quarter results. The stock, currently trading at $20.69, has fallen 61% year-to-date and sits near its 52-week low of $19.29, significantly below InvestingPro’s Fair Value estimate.
Vertex reported non-GAAP earnings per share of $0.17, slightly above the consensus estimate of $0.16, on revenue of $192.1 million, marginally exceeding analyst expectations of $192.0 million. Despite not being profitable over the last twelve months with a diluted EPS of -$0.32, analysts predict the company will be profitable this fiscal year according to InvestingPro data.
The tax technology provider’s revenue grew 13% year-over-year (11% organic), showing a slowdown from the 15% growth recorded in the previous quarter, while subscription revenue reached $164.8 million, up 13% year-over-year but below the consensus estimate of $166.0 million.
Annual recurring revenue (ARR) came in at $648.2 million, representing 12% year-over-year growth, significantly below the consensus expectation of $661.9 million and down from 16% growth in the previous quarter.
The company generated free cash flow of $30.2 million for the quarter, slightly below the consensus estimate of $30.5 million, while cloud revenue growth slowed to 29% year-over-year from 30% in the previous quarter. InvestingPro identifies 11 additional investment tips for Vertex, including its RSI suggesting oversold territory and its moderate debt level. Get the full Pro Research Report covering what really matters about Vertex through expert analysis.
In other recent news, Vertex Inc . reported its financial results for the third quarter of 2025, surpassing earnings expectations with an EPS of $0.17, slightly above the forecast of $0.16. The company’s revenue also exceeded projections, coming in at $192.1 million compared to the anticipated $191.63 million. Despite these positive financial results, BMO Capital has adjusted its price target for Vertex to $24.00 from $30.00, maintaining a Market Perform rating. The firm cited challenges in Vertex’s growth framework, which have impacted the company’s annual recurring revenue growth. These developments reflect broader market concerns and investor sentiment surrounding Vertex.
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