BMO Capital Starts Vertex Inc. (VERX) at Market Perform

January 31, 2022 4:19 PM EST
Get Alerts VERX Hot Sheet
Price: $16.48 +3.45%

Rating Summary:
    4 Buy, 2 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 5 | New: 0
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BMO Capital analyst Daniel Jester initiates coverage on Vertex Inc. (NASDAQ: VERX) with a Market Perform rating and a price target of $15.00.

The analyst commented, "We are initiating coverage of enterprise tax software provider Vertex with a Market Perform rating and $15 target price. Shares have lagged the peer group and broader market as Vertex has embarked on a multi-year investment plan to position the company competitively in the cloud as their customers gradually move there. While valuation is undemanding at ~5x our FY2022 sales estimate, we think underlying demand for tax in the enterprise market is likely to lag improvement in the broader ERP investment landscape with catalysts more long term in nature."

For an analyst ratings summary and ratings history on Vertex Inc. click here. For more ratings news on Vertex Inc. click here.

Shares of Vertex Inc. closed at $13.76 yesterday.

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