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Investing.com - Citizens JMP analyst reiterated a Market Outperform rating and $50.00 price target on Vertex Inc. (NASDAQ:VERX) following investor meetings with company executives. The target represents nearly 95% upside from current levels, with InvestingPro data showing the stock trading near its 52-week low of $24.45.
The meetings, held on August 11 and 12, included Vertex CEO David DeStefano and CFO John Schwab, who met with investors in Chicago and Milwaukee.
When asked about business conditions, DeStefano indicated "Continued strong activity and win dynamics" and noted "a lot of activity, a lot of pipeline-build at the top," while acknowledging they were still "working through the mechanics" previously discussed.
The analyst maintained the positive rating despite Vertex stock having fallen 51% year to date, a significant underperformance compared to the Russell 3000 index’s 9% gain during the same period.
The $50 price target suggests potential upside for the tax technology provider’s shares following their substantial decline in 2025.
In other recent news, Vertex Inc . reported its second-quarter earnings for 2025, achieving a modest earnings beat with an earnings per share (EPS) of $0.15, slightly surpassing the forecasted $0.14. The company reported revenue of $184.6 million, which matched analyst expectations and marked a 15% year-over-year growth, with 12% of that growth being organic. Despite these results, several firms adjusted their price targets for Vertex, reflecting broader market conditions and company-specific challenges. Stifel lowered its price target to $25 from $31, citing macroeconomic softness and delayed ERP migration activity. BMO Capital also reduced its price target to $30 from $38, noting lower usage growth and a slowdown in the SAP ecosystem. Meanwhile, Citizens JMP adjusted its price target to $50 from $61, maintaining a Market Outperform rating. DA Davidson assumed coverage with a Neutral rating and a price target of $29. These developments highlight the cautious stance analysts are taking in light of Vertex’s recent performance and future outlook.
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