Shares of Vertex (NASDAQ:VERX) soared today after it reported earnings for its fourth quarter of Fiscal Year 2022. Adjusted earnings per share came in at $0.08 with revenue of $131.1 million. This beat EPS estimates of $0.07 and revenue estimates by more than $5 million.
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Looking forward, management expects adjusted EBITDA for Fiscal Year 2023 to be in the range of $92 million to $96 million. In addition, revenue is anticipated to come in between $550 million to $556 million versus the consensus forecast of $543.93 million.
Overall, Wall Street analysts have a consensus price target of $15.50 on VERX stock, implying 11.4% downside potential, as indicated by the graphic above.