UPDATE: Jefferies Starts Vertex Inc. (VERX) at Buy

(updating comment)

Jefferies analyst Samad Samana initiates coverage on Vertex Inc. (NASDAQ: VERX) at Hold, PT $34.00.

The analyst comments "VERX is well positioned to benefit from the secular adoption of third-party software to manage indirect taxes. A large TAM (~$7B) and macro tailwinds will fuel years of durable growth (JEF est: 13% CAGR 2018-2022). An increase in cloud adoption and greater scale will also support further margin expansion over the next several years. We believe VERX's LT prospects and reasonable valuation make it attractive."

You May Also Be Interested In

• Jefferies on Five Below (FIVE): 'Our latest channel checks reinforce our view that FIVE's momentum extends well beyond viral Squish trends'
• Silence Therapeutics closes $201M public offering of ADSs
• Fiserv (FISV) PT Lowered to $60 at Freedom Broker