Vertex Analysts Increase Their Forecasts Following Strong Q3 Results

Benzinga11-08

Vertex, Inc. (NASDAQ:VERX) reported better-than-expected third-quarter financial results and raised its FY24 revenue guidance on Wednesday.

Vertex posted adjusted earnings of 16 cents per share, beating market estimates of 14 cents per share. The company's quarterly sales came in at $170.435 million versus expectations of $165.705 million.

“The third quarter of 2024 was another great quarter for Vertex”, stated David DeStefano, Vertex’s President, Chief Executive Officer and Chairperson of the Board. “Revenue was above the high end of our quarterly guidance, with mid-teens organic revenue growth. We were once again GAAP earnings positive with strong Adjusted EBITDA. And we delivered significant cash flow from operating activities as well as free cash flow, demonstrating our high-quality earnings.”

Vertex said it now sees FY24 revenue of $663.3 million to $666.3 million, versus previous forecast of $654 million to $660 million.

Vertex shares gained 3.4% to trade at $51.45 on Thursday.

These analysts made changes to their price targets on Vertex following earnings announcement.

Needham analyst Joshua Reilly maintained Vertex with a Buy and raised the price target from $45 to $60.
Goldman Sachs analyst Adam Hotchkiss maintained the stock with a Buy and raised the price target from $42 to $59.
Baird analyst Rob Oliver maintained the stock with an Outperform and boosted the price target from $43 to $57.

Considering buying VERX stock? Here’s what analysts think:

Read More:

How To Earn $500 A Month From Nvidia Stock After Trump Win

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The company's quarterly sales came in at $170.435 million versus expectations of $165.705 million.</p>\n<p>“The third quarter of 2024 was another great quarter for Vertex”, stated David DeStefano, Vertex’s President, Chief Executive Officer and Chairperson of the Board. “Revenue was above the high end of our quarterly guidance, with mid-teens organic revenue growth. We were once again GAAP earnings positive with strong Adjusted EBITDA. And we delivered significant cash flow from operating activities as well as free cash flow, demonstrating our high-quality earnings.”</p>\n<p>Vertex said it now sees FY24 revenue of $663.3 million to $666.3 million, versus previous forecast of $654 million to $660 million.</p>\n<p>Vertex shares gained 3.4% to trade at $51.45 on Thursday.</p>\n<p>These analysts made changes to their price targets on Vertex following earnings announcement.</p>\n<ul>\n<li>Needham analyst Joshua Reilly maintained Vertex with a Buy and raised the price target from $45 to $60.</li>\n<li>Goldman Sachs analyst Adam Hotchkiss maintained the stock with a Buy and raised the price target from $42 to $59.</li>\n<li>Baird analyst Rob Oliver maintained the stock with an Outperform and boosted the price target from $43 to $57.</li>\n</ul>\n<p><strong>Considering buying VERX stock? Here’s what analysts think:</strong> </p>\n<figure><img decoding=\"async\" height=\"567\" loading=\"lazy\" sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07133355/image-82-1024x567.png\" srcset=\"https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07133355/image-82-1024x567.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07133355/image-82-300x166.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07133355/image-82-768x425.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07133355/image-82.png 1210w\" width=\"1024\"/></figure>\n<p><strong>Read More: </strong></p>\n<ul>\n<li><strong>How To Earn $500 A Month From Nvidia Stock After Trump Win</strong></li>\n</ul></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Vertex Analysts Increase Their Forecasts Following Strong Q3 Results</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nVertex Analysts Increase Their Forecasts Following Strong Q3 Results\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-08 02:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/earnings/24/11/41819276/vertex-analysts-increase-their-forecasts-following-strong-q3-results><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Vertex, Inc. (NASDAQ:VERX) reported better-than-expected third-quarter financial results and raised its FY24 revenue guidance on Wednesday.\nVertex posted adjusted earnings of 16 cents per share, ...</p>\n\n<a href=\"https://www.benzinga.com/news/earnings/24/11/41819276/vertex-analysts-increase-their-forecasts-following-strong-q3-results\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2417539215.USD","symbol_name":"ALLIANZ GLOBAL INCOME \"AMF\" (USD) INC","start_time":0,"source_url":"https://www.benzinga.com/news/earnings/24/11/41819276/vertex-analysts-increase-their-forecasts-following-strong-q3-results","article_id":"2481132542","we_media_id":"1052270027","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481132542","pubTimestamp":1731004539,"sourceInfo":null,"weMediaInfo":{"media_name":"Benzinga","introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"summary":" ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU2417539215.USD":"ALLIANZ GLOBAL INCOME \"AMF\" (USD) INC","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","IE0002141913.USD":"JANUS HENDERSON GLOBAL LIFE SCIENCES \"I2\" (USD) ACC","IE00BJJMRZ35.SGD":"JANUS HENDERSON GLOBAL LIFE SCIENCES \"I2\" (SGDHDG) ACC","IE00BFTCPJ56.SGD":"Janus Henderson Global Life Sciences A Acc SGD","LU2362541273.HKD":"WELLINGTON NEXT GENERATION GLOBAL EQUITY \"A\" (HKD) ACC","LU2462157665.USD":"ALLIANZ GLOBAL INCOME \"A\" (USD) INC","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU1035775433.USD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"AD\" (USD) INC","LU1585245621.USD":"EASTSPRING INV GLOBAL LOW VOLATILITY EQUITY FUND \"A\" (USD) ACC B","IE00B4R5TH58.HKD":"JANUS HENDERSON GLOBAL LIFE SCIENCES \"A2\" (HKD) ACC","LU0889565916.HKD":"FRANKLIN BIOTECHNOLOGY DISCOVERY \"A\" (HKD) ACC","LU1093756168.USD":"FRANKLIN K2 ALTERNATIVE STRATEGIES \"A\" (USD) ACC","LU2362541513.USD":"WELLINGTON NEXT GENERATION GLOBAL EQUITY \"A\" (USD) ACC","BK4139":"生物科技","LU0823416689.USD":"BNP PARIBAS HEALTH CARE INNOVATORS \"C\" (USD) ACC","VERX":"Vertex, Inc.","LU0234570918.USD":"高盛全球核心股票组合Acc Close","IE00B894F039.SGD":"Legg Mason ClearBridge - US Aggressive Growth A Acc SGD-H","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU2324357040.USD":"HSBC GIF GLOBAL EQUITY SUSTAINABLE HEALTHCARE \"AC\" (USD) ACC","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","BK4023":"应用软件","LU0079474960.USD":"联博美国增长基金A","LU1093756325.SGD":"FTIF - Franklin K2 Alt Strat Fd A (acc) SGD-H1","IE0009355771.USD":"骏利亨德森环球生命科技A Acc","VTNR":"顶点能源","BK4532":"文艺复兴科技持仓","LU0289739699.SGD":"AB INTERNATIONAL HEALTH CARE PORTFOLIO \"A\" (SGD) ACC","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","LU0320765992.SGD":"FTIF - Franklin Biotechnology Discovery A Acc SGD","IE00B2B36J28.USD":"JANUS HENDERSON GLOBAL LIFE SCIENCES \"I1\" (USD) INC","IE00BJT1NW94.SGD":"JANUS HENDERSON GLOBAL LIFE SCIENCES \"A2\" (SGDHDG) ACC","BK4567":"ESG概念","BK4585":"ETF&股票定投概念","BK4138":"石油与天然气的炼制和营销","LU0109394709.USD":"富兰克林生物科技新领域基金A (acc)","BK4533":"AQR资本管理(全球第二大对冲基金)","LU2362540622.SGD":"WELLINGTON NEXT GENERATION GLOBAL EQUITY \"A\" (SGDHDG) ACC","IE00B19Z9P08.USD":"LEGG MASON CLEARBRIDGE US AGGRESSIVE GROWTH \"A\" (USD) INC","VRTX":"福泰制药","LU0058720904.USD":"联博国际健康护理基金A","LU2237438978.USD":"Amundi Funds US Pioneer A2 (C) USD","LU1069344957.HKD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"AD\" (HKD) INC","IE00B19Z9Z06.USD":"Legg Mason ClearBridge - US Aggressive Growth A Acc USD","LU2456880835.USD":"ALLIANZ GLOBAL INCOME \"AT\" (USD) ACC","LU1430594728.SGD":"Eastspring Investments - Global Low Volatility Equity AS SGD","LU2236285917.USD":"ALLIANZ GLOBAL INCOME \"AMG\" (USD) INC","BK4588":"碎股"},"translate_title":"Vertex分析师在第三季度业绩强劲后上调预测","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"VTNR":1,"VRTX":1,"VERX":1},"content_text":"Vertex, Inc. (NASDAQ:VERX) reported better-than-expected third-quarter financial results and raised its FY24 revenue guidance on Wednesday.\nVertex posted adjusted earnings of 16 cents per share, beating market estimates of 14 cents per share. The company's quarterly sales came in at $170.435 million versus expectations of $165.705 million.\n“The third quarter of 2024 was another great quarter for Vertex”, stated David DeStefano, Vertex’s President, Chief Executive Officer and Chairperson of the Board. “Revenue was above the high end of our quarterly guidance, with mid-teens organic revenue growth. We were once again GAAP earnings positive with strong Adjusted EBITDA. 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