BMO Capital analyst Daniel Jester reiterated a Market Perform rating and $17.00 price target on Vertex (NASDAQ: VRTX).

The analyst commented: "With the recent restructuring initiative to drive an AI-first organization, incrementally deeper focus on the e-invoicing opportunity with the latest acquisition, and the partial reset of the medium term financial ambitions reflecting moderated demand in the core tax business, management has evolved the investment case for Vertex. We think these are positive steps generally, but we think there are differences in the e-invoicing market compared to the core tax business which provides some uncertainty for growth durability ahead of the major e-invoicing scaling expected over the next two years."

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

Shares of Vertex closed at $425.00 yesterday.