These Analysts Slash Their Forecasts On Vertex After Q2 Results – Vertex (NASDAQ:VERX)

Vertex, Inc. VERX reported weaker-than-expected sales for the second quarter and cut its FY25 sales guidance below estimates on Wednesday.

Vertex reported quarterly earnings of 15 cents per share which beat the analyst consensus estimate of 14 cents per share. The company reported quarterly sales of $184.559 million which missed the analyst consensus estimate of $184.595 million.

The company lowered its FY2025 sales guidance from $760.00 million-$768.00 million to $750.00 million-$754.00 million.

“This quarter’s results were in line with expectations, with double-digit revenue growth and healthy profitability and cash flow,” said David DeStefano, Vertex’s President, Chief Executive Officer and Chairperson of the Board. “We continue to be optimistic about the future for Vertex. As indirect taxes continue to grow in complexity, our customers need our solutions more than ever. In addition, ERP cloud conversions and the proliferation of e-invoicing mandates globally are expected to be durable long-term drivers of growth.”

Vertex shares rose 0.3% to $27.17 on Thursday.

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

• BMO Capital analyst Daniel Jester maintained Vertex with a Market Perform and cut the price target from $38 to $30.
• JMP Securities analyst Patrick Walravens maintained the stock with a Market Outperform and lowered the price target from $61 to $50.
• Goldman Sachs analyst Adam Hotchkiss maintained Vertex with a Buy and lowered the price target from $50 to $43.

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