Vertex price target raised to $45 from $35 at Needham

Needham raised the firm’s price target on Vertex to $45 from $35 and keeps a Buy rating on the shares. The company reported “strong” Q4 results even though the benefit from price increases to annual recurring revenue, ARR, growth missed its expectations entering the quarter, and also the Oracle Enterprise Command Centers opportunity is yet to hit bookings/ARR growth in 2024 and beyond, the analyst tells investors in a research note.