William Blair analyst Jake Roberge has maintained their bullish stance on VERX stock, giving a Buy rating today.
Jake Roberge has given his Buy rating due to a combination of factors that highlight Vertex’s potential for sustained growth. The company has set ambitious long-term targets, including high-teens revenue growth and significant increases in subscription and cloud revenues by 2028. These targets are supported by management’s confidence in the stability of the current demand environment, as evidenced by consistent top-of-funnel activity and deal closures.
Furthermore, Vertex is poised to capitalize on emerging opportunities such as ERP migrations and e-invoicing, which are expected to significantly contribute to its business. The introduction of innovative solutions like the AI Smart Categorization product, which automates tax category mapping, demonstrates Vertex’s commitment to leveraging technology for efficiency and expansion. These strategic initiatives, combined with the mission-critical nature of Vertex’s tax platform, underpin Roberge’s positive outlook on the company’s future prospects.
In another report released today, JMP Securities also maintained a Buy rating on the stock with a $61.00 price target.