Vertex Inc (NASDAQ: VERX)’s stock price has dropped by -0.76 in relation to previous closing price of 30.15. Nevertheless, the company has seen a gain of 2.43% in its stock price over the last five trading days. Seeking Alpha reported 2024-05-08 that Vertex, Inc. (NASDAQ:VERX ) Q1 2024 Earnings Conference Call May 8, 2024 8:30 AM ET Company Participants Joe Crivelli – Vice President-Investor Relations David DeStefano – President and Chief Executive Officer John Schwab – Chief Financial Officer Conference Call Participants Chris Quintero – Morgan Stanley Daniel Jester – BMO Capital Joshua Reilly – Needham Adam Hotchkiss – Goldman Sachs Brad Reback – Stifel Natalie Howe – Bank of America Alex Sklar – Raymond James Austin Cole – Citizens Operator Greetings, and welcome to Vertex’s First Quarter 2024 Earnings Conference Call. Please note this conference is being recorded.
Is It Worth Investing in Vertex Inc (NASDAQ: VERX) Right Now?
The price-to-earnings ratio for Vertex Inc (NASDAQ: VERX) is above average at 690.99x. The 36-month beta value for VERX is also noteworthy at 0.65. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for VERX is 49.83M, and at present, short sellers hold a 2.68% of that float. The average trading volume of VERX on May 09, 2024 was 733.99K shares.
VERX’s Market Performance
The stock of Vertex Inc (VERX) has seen a 2.43% increase in the past week, with a -8.14% drop in the past month, and a 19.25% gain in the past quarter. The volatility ratio for the week is 4.07%, and the volatility levels for the past 30 days are at 3.89% for VERX. The simple moving average for the past 20 days is 0.59% for VERX’s stock, with a 17.07% simple moving average for the past 200 days.
Analysts’ Opinion of VERX
Many brokerage firms have already submitted their reports for VERX stocks, with BofA Securities repeating the rating for VERX by listing it as a “Neutral.” The predicted price for VERX in the upcoming period, according to BofA Securities is $40 based on the research report published on March 01, 2024 of the current year 2024.
Morgan Stanley, on the other hand, stated in their research note that they expect to see VERX reach a price target of $25. The rating they have provided for VERX stocks is “Overweight” according to the report published on September 18th, 2023.
BofA Securities gave a rating of “Neutral” to VERX, setting the target price at $20 in the report published on March 09th of the previous year.
VERX Trading at -0.70% from the 50-Day Moving Average
After a stumble in the market that brought VERX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -15.43% of loss for the given period.
Volatility was left at 3.89%, however, over the last 30 days, the volatility rate increased by 4.07%, as shares sank -6.41% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +17.80% upper at present.
During the last 5 trading sessions, VERX rose by +2.43%, which changed the moving average for the period of 200-days by +53.12% in comparison to the 20-day moving average, which settled at $29.64. In addition, Vertex Inc saw 11.06% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at VERX starting from Westphal Jeffrey, who sale 791,133 shares at the price of $30.05 back on Apr 05 ’24. After this action, Westphal Jeffrey now owns 1,554,641 shares of Vertex Inc, valued at $23,773,547 using the latest closing price.
2020 IRREVOCABLE TRUST FOR BEN, the 13(D) GROUP MEMBER of Vertex Inc, sale 30,692 shares at $30.22 during a trade that took place back on Mar 27 ’24, which means that 2020 IRREVOCABLE TRUST FOR BEN is holding 0 shares at $927,543 based on the most recent closing price.
Stock Fundamentals for VERX
Current profitability levels for the company are sitting at:
- -0.02 for the present operating margin
- 0.6 for the gross margin
The net margin for Vertex Inc stands at -0.02. The total capital return value is set at -0.03. Equity return is now at value 3.26, with 1.04 for asset returns.
Based on Vertex Inc (VERX), the company’s capital structure generated 0.17 points at debt to capital in total, while cash flow to debt ratio is standing at 1.46. The debt to equity ratio resting at 0.2. The interest coverage ratio of the stock is -2.64.
Currently, EBITDA for the company is 79.36 million with net debt to EBITDA at -0.37. When we switch over and look at the enterprise to sales, we see a ratio of 8.07. The receivables turnover for the company is 4.04for trailing twelve months and the total asset turnover is 0.75. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.60.
Conclusion
In summary, Vertex Inc (VERX) has had a better performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
