Vertex downgraded to Hold from Buy at Stifel

Stifel analyst Brad Reback downgraded Vertex (VERX) to Hold from Buy with a price target of $31, down from $58. The company posted solid Q4 results, but the management’s decision to accelerate 2025 investments in AI offerings and go-to-market efforts around the recently closed ecosio acquisition – along with the back-end loaded 2025 revenue growth view and a premium valuation – warrants a downgrade, the analyst tells investors in a research note.