BofA lowered the firm’s price target on Vertex (VERX) to $34 from $42 and keeps a Neutral rating on the shares following the company’s weaker FY25 outlook. Vertex is “one of few companies citing a weaker macro, which suggests to the firm that “the root cause may be more than just that,” the analyst tells investors. The sales tax category presents limitations to growth and “this was a quarter where that has become more evident,” the analyst added.
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Read More on VERX:
- Vertex’s FY25 Outlook: Hold Rating Amid Downward Projections and Growth Opportunities
- Vertex downgraded to Neutral from Buy at DA Davidson
- Vertex price target lowered to $50 from $61 at Citizens JMP
- Vertex, Inc. Reports Strong Revenue Growth Amid Challenges
- Vertex, Inc. Navigates Growth Amid Challenges