TD Cowen initiated coverage of Vertex with a Buy rating and a $14 price target on June 29, 2026, calling the company a leading global indirect tax and e-invoicing software vendor. The firm cited reasonable consensus expectations and a depressed valuation after the stock's year-to-date decline of over 35% as reasons sentiment could improve alongside execution, and expects Vertex to sustain double-digit revenue growth through at least fiscal 2028. The initiation followed first-quarter 2026 results in which Vertex reported total revenue of $196.6 million, up 11.1% year-over-year, and adjusted EBITDA of $44.1 million, above the high end of guidance. During the quarter, Vertex acquired Brinta, an AI-first e-invoicing startup in Latin America, and launched a Value Creation Plan expected to save $60 million to $70 million annually beginning in 2027. Vertex guided for full-year 2026 revenue of $823.5 million to $831.5 million and cloud revenue growth of 25%.
VertexTD Cowen initiated coverage with Buy rating and $14 price target, citing depressed valuation and reasonable expectations.
Vertex Pharmaceuticals IncVertex acquired Brinta, an AI-first e-invoicing startup, expanding its technology and geographic reach.