Vertex (NASDAQ:VERX – Get Free Report) announced its quarterly earnings data on Wednesday. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04, FiscalAI reports. The business had revenue of $213.28 million for the quarter, compared to analyst estimates of $209.72 million. Vertex had a net margin of 0.45% and a return on equity of 29.00%.
Vertex Stock Performance
Shares of VERX stock traded up $0.66 during trading on Wednesday, reaching $15.92. 1,866,890 shares of the company’s stock were exchanged, compared to its average volume of 1,813,214. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $2.58 billion, a PE ratio of 796.40 and a beta of 0.77. Vertex has a twelve month low of $10.21 and a twelve month high of $20.85. The firm’s fifty day moving average price is $13.23 and its 200-day moving average price is $13.31.
Analyst Ratings Changes
VERX has been the topic of several analyst reports. TD Cowen cut their price target on shares of Vertex from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, October 13th. Morgan Stanley cut Vertex from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $19.00 to $15.00 in a report on Tuesday, July 21st. BMO Capital Markets raised their price objective on Vertex from $14.00 to $15.00 and gave the company a “market perform” rating in a report on Tuesday, August 4th. Wall Street Zen raised Vertex from a “hold” rating to a “buy” rating in a research report on Sunday, October 18th. Finally, DA Davidson dropped their target price on Vertex from $15.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, August 4th. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Vertex currently has an average rating of “Hold” and an average price target of $17.50.
Get Our Latest Research Report on VERX
About Vertex
Vertex, Inc is a tax technology company that provides software and services to help businesses manage tax determination, compliance and reporting. Its solutions are designed to support complex transaction tax requirements across sales and use tax, value-added tax, goods and services tax, communications tax, and other indirect taxes.
The company’s offerings include cloud-based and enterprise tax software, tax calculation engines, compliance and returns management tools, tax data management, and related professional services.
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