Is Vertex Stock Worth Buying Despite Its 105% Year-to-Date Rally? [Yahoo! Finance]
Vertex, Inc. - Class A (VERX)
Company Research
Source: Yahoo! Finance
has placed Vertex among the top performers in the broader technology sector, vastly outperforming both the Zacks Internet - Software industry and The Technology Select Sector SPDR Fund XLK ETF, which posted gains of 32.6% and 22%, respectively. Image Source: Zacks Investment Research While such a rally raises questions about the stock being overvalued, Vertex's robust financial performance, strategic growth initiatives and competitive positioning suggest that it is still a compelling investment for long-term growth seekers. Vertex's financial performance has been a cornerstone of its impressive stock rally. In the third quarter of 2024, the company reported revenues of $170.4 million, reflecting a 17.5% year-over-year increase, driven by strong growth in Software subscription revenues, which surged 20.6% to $146.3 million. This recurring revenue stream now constitutes more than 85% of Vertex's total revenues, underscoring the stability and predictability of its business model.
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VERX
News
- What Makes Vertex (VERX) a Prospective Investment? [Yahoo! Finance]Yahoo! Finance
- Vertex, Inc. (NASDAQ: VERX) had its price target raised by analysts at Stifel Nicolaus from $52.00 to $58.00. They now have a "buy" rating on the stock.MarketBeat
- Vertex, Inc. (NASDAQ: VERX) had its price target raised by analysts at Citigroup Inc. from $46.00 to $54.00. They now have a "neutral" rating on the stock.MarketBeat
- Vertex Named a Leader in the 2024 IDC MarketScape for Worldwide SaaS and Cloud-Enabled Tax Automation Software for Enterprise, SMB and VAT [Yahoo! Finance]Yahoo! Finance
- Vertex Named a Leader in the 2024 IDC MarketScape for Worldwide SaaS and Cloud-Enabled Tax Automation Software for Enterprise, SMB and VATGlobeNewswire
VERX
Earnings
- 11/6/24 - Beat
VERX
Sec Filings
- 12/18/24 - Form 4
- 12/17/24 - Form 144
- 12/16/24 - Form 4
- VERX's page on the SEC website