Jefferies analyst Samad Samana lowered the firm’s price target on Vertex (VERX) to $28 from $35 and keeps a Buy rating on the shares. Final results were consistent with the October preannouncement, with net revenue retention ticking down again to 107% driven by churn as well as legacy deployment deprecations, the analyst tells investors in a research note. While management spoke positively on 2026 and shares are trading at a trough multiple, the firm believes investors will be hesitant to step in until the business stabilizes and they get more confidence that the CEO transition will not be disruptive.
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