Vertex Inc. (VERX) PT Raised to $15 at BMO Capital

BMO Capital analyst Daniel Jester raised the price target on Vertex Inc. (NASDAQ: VERX) to $15.00 (from $14.00) while maintaining a Market Perform rating.

The analyst commented: "Moderating growth continued in 2Q, impacted by elongated deal cycles and uneven cloud migration trends which have been headwinds for some time. Updated guidance for revenue re-acceleration in 4Q, partially fueled by ramping e-invoicing revenue, still carries some risk in our view given broader finance and back office digital transformation trends. Should the core tax business stabilize, potential catalysts to supplement e-invoicing scaling include more progress on the AI product roadmap and improving cash generation over time. Remain Market Perform."

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