Raymond James downgraded Vertex (VERX) to Market Perform from Outperform without a price target The firm repositioned several ratings throughout the application software sector at the start of 2025. While Vertex remains one of the best longer term compounding stories in the group, a combination of Raymond James’ numbers being moderately below consensus and a valuation “now noticeably above the group” has the risk/reward looking more balanced, the analyst tells investors in a research note. While the firm does not see a risk to near-term numbers, it believes “two of the more exciting catalysts” of e-invoicing and a refresh cycle are likely to play out over the next several years rather than provide a material source of upside in the very near term.
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Read More on VERX:
- CompoSecure to spin off Resolute, EHang raises Q4 revenue view; Morning Buzz
- Vertex initiated with a Buy at DA Davidson
- Vertex price target raised to $58 from $52 at Stifel
- Vertex price target raised to $54 from $46 at Citi
- Vertex management to meet with JMP Securities
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
