BMO Capital analyst Daniel Jester raised the firm’s price target on Vertex to $19 from $16 but keeps a Market Perform rating on the shares after its Q4 results. The company "cleared a very low bar" with upside in annual recurring revenue and EBITDA, along with its "more constructive" FY23 guidance, the analyst tells investors in a research note. The firm further states that the rally in Vertex shares reflects the healthy investor appetite for defensive growth stories that appear insulated from the macro.
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Published first on TheFly
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Read More on VERX:
- Vertex upgraded to Neutral from Underperform at BofA
- Vertex Soars after Earnings and Guidance Beat
- Vertex sees Q1 revenue $131M-$133M, consensus $128.36M
- Vertex sees FY23 revenue $550M-$556M, consensus $543.93M
- Vertex reports Q4 adjusted EPS 8c, consensus 6c
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