DA Davidson raised the firm’s price target on Vertex (VERX) to $15 from $13 and keeps a Neutral rating on the shares after its Q1 earnings beat. The management highlighted continued strong customer activity despite a challenged macro environment, while also noting the recent Value Creation Plan and their expectation for accelerated profitability and free cash flow generation, the analyst tells investors in a research note.
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Read More on VERX:
- Vertex price target raised to $16 from $15 at Citi
- Analyst Initiates Buy on Vertex, Citing Value Creation Plan, Margin Expansion and Attractive Long-Term Valuation
- Vertex price target lowered to $21 from $23 at Goldman Sachs
- Vertex reports Q1 EPS 17c, consensus 16c
- Vertex sees Q2 revenue $200M-$204M, consensus $203.14M