This tax software company can now focus on expanding margins thanks to the completion of an investment cycle, the firm found.
Tax software stock Vertex is sitting on "underappreciated growth," and now is a good time to buy this under-the-radar name, Morgan Stanley says. The firm resumed coverage of the tax software stock at an overweight rating and a $25 per share price target. Morgan Stanley's forecast implies more than 20% upside from Friday's $20.69 close. Vertex stock has added about 46% in 2023.
mountain Vertex stock has added 46% from the start of the year. When Vertex debuted in the public markets about three years ago, the company kicked off a multi-year growth investment program to tap a $20 billion total addressable market for indirect tax management software, analyst Chris Quintero wrote in Monday note. This plan is now paying off, he added.
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