Vertex (NASDAQ:VERX) Given New $30.00 Price Target at Needham & Company LLC

Vertex (NASDAQ:VERX) had its price objective lifted by Needham & Company LLC from $20.00 to $30.00 in a research report released on Thursday morning, MarketBeat.com reports. The firm currently has a buy rating on the stock.

Several other analysts have also commented on the company. Robert W. Baird dropped their price objective on Vertex from $19.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, August 4th. Stephens reduced their target price on Vertex from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, August 4th. Wall Street Zen raised Vertex from a “hold” rating to a “buy” rating in a research note on Sunday, October 18th. Weiss Ratings upgraded Vertex from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, October 23rd. Finally, BMO Capital Markets lifted their price target on shares of Vertex from $14.00 to $15.00 and gave the company a “market perform” rating in a research note on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Vertex has a consensus rating of “Hold” and a consensus target price of $18.79.

Vertex Trading Up 10.5%

VERX stock opened at $17.59 on Thursday. The company’s 50-day simple moving average is $13.36 and its 200-day simple moving average is $13.29. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.40. Vertex has a 52-week low of $10.21 and a 52-week high of $20.85. The firm has a market cap of $2.85 billion, a P/E ratio of -60.66 and a beta of 0.77.

Vertex (NASDAQ:VERX) last posted its earnings results on Wednesday, November 4th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. Vertex had a positive return on equity of 34.28% and a negative net margin of 5.83%. The firm had revenue of $213.28 million for the quarter, compared to analysts’ expectations of $209.72 million. During the same period last year, the firm earned $0.17 EPS. The company’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, equities analysts forecast that Vertex will post 0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Sterling Capital Management LLC boosted its stake in shares of Vertex by 841.4% in the third quarter. Sterling Capital Management LLC now owns 2,410 shares of the company’s stock worth $28,000 after acquiring an additional 2,154 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Vertex in the 3rd quarter valued at $68,000. Versant Capital Management Inc raised its stake in Vertex by 74.8% in the 2nd quarter. Versant Capital Management Inc now owns 8,604 shares of the company’s stock valued at $99,000 after purchasing an additional 3,683 shares during the last quarter. Verdence Capital Advisors LLC acquired a new position in Vertex in the 3rd quarter valued at $128,000. Finally, Caxton Associates LLP purchased a new position in Vertex in the 1st quarter valued at $132,000. Institutional investors and hedge funds own 70.32% of the company’s stock.

Key Stories Impacting Vertex

Here are the key news stories impacting Vertex this week:

• Positive Sentiment: Vertex reported third-quarter adjusted earnings of $0.26 per share, above the $0.22 consensus, while revenue of $213.28 million topped estimates of $209.72 million and grew 11% year over year. Earnings per share also rose from $0.17 a year earlier. Vertex Announces Third Quarter 2026 Financial Results
• Positive Sentiment: Needham raised its price target to $30 from $20 and maintained a Buy rating, signaling increased optimism about Vertex’s potential. Needham analyst recommendations
• Neutral Sentiment: Piper Sandler lifted its target to $20 from $16 but kept a Neutral rating, suggesting a more measured view despite the higher valuation outlook. Piper Sandler analyst recommendations
• Negative Sentiment: A Seeking Alpha article downgraded Vertex and recommended locking in gains following the rebound, presenting a counterpoint to the earnings-driven optimism. Vertex Software: Lock In Gains On This Rebound

Vertex Company Profile

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.