Joshua Reilly, an analyst from Needham, maintained the Buy rating on Vertex. The associated price target was lowered to $40.00.
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Joshua Reilly has given his Buy rating due to a combination of factors including Vertex’s ability to report revenue and non-GAAP EPS slightly above expectations despite facing macroeconomic challenges. The company is making progress with its e-invoicing bookings and expanding its presence in Belgium, France, and Germany, which are crucial markets due to upcoming regulatory deadlines. Reilly anticipates that the demand for comprehensive platforms over point solutions will increase as these mandates come into effect, potentially driving growth for Vertex in 2026. Although the management has adopted a more cautious outlook by lowering revenue guidance, the long-term growth prospects remain promising. This strategic positioning and potential for future growth underpin Reilly’s positive outlook on Vertex’s stock.