UPDATE: Morgan Stanley Downgrades Vertex Inc. (VERX) to Underweight
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Morgan Stanley analyst Stan Zlotsky downgraded Vertex Inc. (NASDAQ: VERX) from Equalweight to Underweight with a price target of $18.00 (from $22.00).
The analyst comments "Our latest industry work suggests Vertex remains wellpositioned with largest enterprises, but move downmarket may be challenged by strong Cloud-native competitors. With a revised market opportunity to reflect a more limited runway, we downgrade VERX to Underweight with $18PT."
Shares of Vertex Inc. closed at $22.66 yesterday.
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