Vertex (NASDAQ:VERX) Stock

Vertex

Vertex Inc is a provider of tax technology and services. Its software, content, and services help customers stay in compliance with indirect taxes that occur in taxing jurisdictions all over the world. Vertex provides cloud-based and on-premise solutions to specific industries for every line of tax, including income, sales, consumer use, value-added, and payroll. The company offers solutions such as tax determination, Tax Data Management, document management, and compliance and reporting among others. The company derives revenue from software subscriptions.

Vertex Inc

News

BBAI

BigBear.ai Estimates Restatement To Change 2023 Income Before Taxes To $(71.3)M From Prior $(60.3)M, To Change 2024 Income Before Taxes To $(296.1)M From Prior $(257.1)M

General

VIAV

VIAVI Launches 800G Module Expanding Portfolio Of High-Speed Test Solutions

Carter's Launches Spring Break Collection Curated By Social Media Star Baby Kate

HC Wainwright &amp; Co. analyst Patrick Trucchio reiterates Gossamer Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOSS#NASDAQ">GOSS</a>) with a Buy and maintains $10 price target.

Price Target

Reiteration

Analyst Ratings

GOSS

HC Wainwright & Co. Reiterates Buy on Gossamer Bio, Maintains $10 Price Target

BigBear.ai Identifies Need To Restate Certain Prior Financial Statements - Filing

Health Care

CMPS

Compass Pathways Publishes Results From COMP360 Psilocybin Study Indicating Longer-Term antidepressant Effects With 25mg Dose

This LOI builds on the existing Development Service Agreement between Solterra and SB Impact 4, which granted exclusivity to SB Impact 4 and N2OFF for evaluating and potentially acquiring these projects within a 60-day period.

Contracts

NITO

N2OFF Signs Non-binding Letter Of Intent With SB Impact 4 And Solterra Brand Services Italy

Needham analyst Mike Matson maintains Haemonetics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAE#NYSE">HAE</a>) with a Buy and lowers the price target from $108 to $104.

Needham Maintains Buy on Haemonetics, Lowers Price Target to $104

OUST

Ouster Launches Cloud Portal For Ouster Gemini

Morgan Stanley analyst Adam Jonas upgrades Lucid Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) from Underweight to Equal-Weight and announces $3 price target.

Upgrades

LCID

Morgan Stanley Upgrades Lucid Group to Equal-Weight, Announces $3 Price Target

ITT Launches Industrial Smart Motor VIDAR That Reduces Operating Costs And Cuts Co2 Emissions

HC Wainwright &amp; Co. analyst Patrick Trucchio reiterates Altimmune (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALT#NASDAQ">ALT</a>) with a Buy and maintains $12 price target.

HC Wainwright & Co. Reiterates Buy on Altimmune, Maintains $12 Price Target

HC Wainwright &amp; Co. analyst Raghuram Selvaraju initiates coverage on Alpha Cognition (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACOG#NASDAQ">ACOG</a>) with a Buy rating and announces Price Target of $20.

Initiation

ACOG

HC Wainwright & Co. Initiates Coverage On Alpha Cognition with Buy Rating, Announces Price Target of $20

HC Wainwright &amp; Co. analyst Amit Dayal reiterates SolarBank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SUUN#NASDAQ">SUUN</a>) with a Buy and maintains $6 price target.

SUUN

HC Wainwright & Co. Reiterates Buy on SolarBank, Maintains $6 Price Target

HC Wainwright &amp; Co. analyst Heiko Ihle maintains Americas Gold And Silver (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/USAS#AMEX">USAS</a>) with a Buy and lowers the price target from $1 to $0.9.

USAS

HC Wainwright & Co. Maintains Buy on Americas Gold And Silver, Lowers Price Target to $0.9

HC Wainwright &amp; Co. analyst Heiko Ihle maintains enCore Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EU#NASDAQ">EU</a>) with a Buy and lowers the price target from $7 to $2.75.

HC Wainwright & Co. Maintains Buy on enCore Energy, Lowers Price Target to $2.75

UUUU

Chemours Partners With Energy Fuels  To Form A Domestic Supply Chain Of Critical Minerals For US

U.S. stock futures were flat on Tuesday after a bounce back on Monday. Futures of all four benchmark indices were mixed in premarket trading.
On Monday, stocks continued their recovery from last week&#8217;s sell-off, which had pushed the S&amp;P 500 into correction territory amid growing concerns over the U.S. economy&#8217;s ability to withstand President Donald Trump&#8216;s trade war.
The two-day meeting of the Federal Open Market Committee will begin today as they discuss and announce their decision on interest rates slated to be released tomorrow. Chairman Jerome Powell will address a press conference on Wednesday afternoon.
The 10-year Treasury yield stood at 4.31%, while the two-year yield was at 4.04%. According <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">to</a> the CME Group's FedWatch tool, there is a 99% chance that the Federal Reserve will keep interest rates unchanged tomorrow.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.21%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.06%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.02%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.22%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which tracks the S&amp;P 500 index and Nasdaq 100 index, respectively, dropped slightly in premarket on Monday. The SPY was down 0.15% to $566.37, and the QQQ also declined 0.25% to $481.54, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From The Last Session
Real estate, energy, and consumer staples stocks led Monday&#8217;s market rally, with significant gains across the S&amp;P 500. Conversely, consumer discretionary stocks dipped.
This sector-driven strength propelled the Dow Jones higher extending the market&#8217;s recovery after last week&#8217;s sharp declines, which saw the Dow lose 3.1% and the S&amp;P 500 drop over 2%.
In company news, Guess? Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GES#NYSE">GES</a>) shares surged 30% on acquisition interest, and Baidu Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) shares climbed 9% following the launch of new AI models.
Economic data presented a mixed picture, with retail sales growth below expectations, a sharp drop in the NY Empire State Manufacturing Index, and a decline in housing market confidence.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>0.31%</td>
<td>17,808.66</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.64%</td>
<td>5,675.12</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.85%</td>
<td>41,841.63</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1.19%</td>
<td>2,068.33</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts
The market sentiment seemed to be recovering on Monday after the S&amp;P 500 index recorded an upmove in 90% of its issues for two consecutive days. Ryan Detrick of Carson Research highlighted that this was a rare occurrence when 90% of S&amp;P 500 constituents rose back-to-back for two days.
According to the historical data shared by him, this has only happened 12 times since 1972 and the index has been higher in all instances after a year.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Back-to-back 90% advancing issues for the S&amp;P 500. Using <a href="https://twitter.com/NDR_Research?ref_src=twsrc%5Etfw">@NDR_Research</a> data back to 1972 shows higher six and 12 months later every single time, with much better than average returns. I&#39;m sure this will make everyone mad, but it made me &#x1f603; <a href="https://t.co/QWf8lJx2eQ">pic.twitter.com/QWf8lJx2eQ</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1901824344839336317?ref_src=twsrc%5Etfw">March 18, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Meanwhile, Liz Ann Sonders and Kevin Gordon of Charles Schwab said in a note "The only thing we can be certain of is that things will remain uncertain for the time being."
They quoted the data from a few years ago when confidence metrics went through a soft patch giving a &#8220;false&#8221; recessionary signal amid strong underlying growth and the hard data. They termed it as a &#8220;vibecession.&#8221;
Whereas they termed the current period as &#8220;vibespansion," which was evident a few months ago, however, many strong sentiment metrics are receding. "If the soft data stay soft long enough, we see more risk of the hard data catching down," the note added.
Edward Yardeni or Yardeni Research highlighted that the markets could have bottomed out on Thursday last week and rose on Friday and Monday because there was no comment from Trump on tariffs.
He said, "From a sentiment perspective, it is possible that Thursday's selloff followed by Friday's rally marked a bottom in the correction. We will be more inclined to call a bottom when we see the stock market move higher on a day or days when Trump blusters about tariffs again, which he did not do on Friday."
"Any day without a Trump tariff comment is a good day for the market. We know that on April 2 there will be lots of reciprocal tariffs imposed on many more nations by the administration, undoubtedly eliciting lots of comments from Tariff Man," he added.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures </a>
Upcoming Economic Data
Here&#8217;s what investors will keep an eye on Tuesday:
<ul>
<li>February&#8217;s housing starts, building permits, and import price index data will be announced at 8:30 a.m., ET.</li>
</ul>
<ul>
<li>Also, February&#8217;s industrial production and capacity utilization data will be released at 9:15 a.m., ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>IHS Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHS#NYSE">IHS</a>) was up 0.77% in premarket on Tuesday ahead of its earnings before the opening bell. Analysts expect earnings of 4 cents per share on revenue of $424.00 million.</li>
</ul>
<ul>
<li>HealthEquity Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HQY#NASDAQ">HQY</a>) advanced 0.28% as Wall Street expects it to report earnings of 72 cents per share on revenue of $306.05 million after the closing bell.</li>
</ul>
<ul>
<li>StoneCo Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STN#NASDAQ">STN</a>) rose 0.49% ahead of its earnings after the closing bell. Analysts expect earnings of 35 cents per share on revenue of $647.56 million.</li>
</ul>
<ul>
<li>Getty Images Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GETY#NYSE">GETY</a>) jumped 2.33% after posting an upbeat earnings result for its fourth quarter on Monday.</li>
</ul>
<ul>
<li>Sangamo Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGMO#NASDAQ">SGMO</a>) dropped 6.83% after reporting worse-than-expected fourth-quarter financial results.</li>
</ul>
<ul>
<li>Baidu Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) was 4.39% higher continuing the momentum from yesterday following the launch of new AI models.</li>
</ul>
<ul>
<li>Bon Natural Life Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BON#NASDAQ">BON</a>) surged 29.71% after it secured $12 million in gross proceeds from a best efforts unit offering.</li>
</ul>
<ul>
<li>Harrow Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HROW#NASDAQ">HROW</a>) zoomed 24.14% after it projected 2025 revenue of over $280 million, driven by branded products.</li>
</ul>
<ul>
<li>Bakkt Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKKT#NYSE">BKKT</a>) plunged 30.24% after it rescheduled its fourth-quarter earnings call to March 18, 2025.</li>
</ul>
Commodities, Gold And Global Equity Markets:
Crude oil futures were trading higher in the early New York session by 1.35% to hover around $68.28 per barrel.
The gold spot index was up by 0.70% to $3,022.11 per ounce. Its last record high was at $3,028.49 per ounce. The Dollar Index was down by 0.05% at the 103.322 level.
Asian markets closed higher on Tuesday with China&#8217;s CSI 300, Japan's Nikkei 225, South Korea's Kospi, Australia's ASX 200, Hong Kong's Hang Seng, and India's S&amp;P BSE Sensex advancing in trade. European markets were also higher in trade.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/03/44371661/ai-bubble-bursting-magnificent-7s-profit-margins-face-pressure-as-capital-spending-can-tumble-in">AI Bubble Bursting? Magnificent 7&#8217;s Profit Margins Face Pressure As &#8216;Capital Spending Can Tumble&#8217; In 2025</a></li>
</ul>
Photo courtesy: Shutterstock

Equities

Market Summary

Futures

Economics

Federal Reserve

Pre-Market Outlook

Markets

BIDU

Bakkt Holdings, Inc. Class A Common Stock

BKKT

GETY

HROW

SGMO

US Futures Show Caution Among Investors Ahead Of FOMC Meeting: Analysts Say Only Certainty Is That 'Things Will Remain Uncertain For The Time Being'

HC Wainwright &amp; Co. analyst Heiko Ihle reiterates First Mining Gold (TSX:<a class="ticker" href="https://www.benzinga.com/stock/FF#TSX">FF</a>) with a Buy and maintains C$0.35 price target.

TSX:FF

HC Wainwright & Co. Reiterates Buy on First Mining Gold, Maintains C$0.35 Price Target

FinVolution Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FINV#NYSE">FINV</a>) shares are trading higher premarket on Tuesday. On Monday, the company reported fourth-quarter&nbsp;revenue of CNY3.46 billion&nbsp;($473.6 million)&nbsp;vs. <a target="_blank" href="https://www.benzinga.com/pressreleases/25/03/n44366998/finvolution-group-reports-fourth-quarter-and-fiscal-year-2024-unaudited-financial-results" rel="noreferrer noopener">CNY3.22 billion a year ago quarter</a>.
Revenues were led by higher loan facilitation service fees and other revenue.
As of December 31, 2024, cumulative registered users rose 45.1% year-over-year (Y/Y) to 35.7 million, and cumulative borrowers in the international market upped 45.8% Y/Y to 7.0 million.
Transaction volume&nbsp;stood at&nbsp;CNY52.4&nbsp;billion, up 8.6% Y/Y, with an increase of 7.8% in China&#8217;s Mainland and 26.1% in the International segment.
Adjusted operating income rose to CNY822.0&nbsp;million ($112.6&nbsp;million)&nbsp;from&nbsp;CNY547.0 million in the prior year quarter.
Adjusted EPS&nbsp;surged to CNY2.74&nbsp;($0.38)&nbsp;from&nbsp;<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">CNY2.04&nbsp;in the prior year quarter</a>.
As of&nbsp;December 31, 2024, the company had cash and cash equivalents of&nbsp;CNY4.67 billion&nbsp;($640.2 million) and short-term investments, mainly in wealth management products and term deposits, of&nbsp;RMB2,832.4 million&nbsp;($388.0 million).
Jiayuan Xu, Chief Financial Officer, said, &#8220;As part of our&nbsp;unwavering&nbsp;commitment to delivering&nbsp;value to shareholders through&nbsp;business growth and&nbsp;capital return, we deployed approximately&nbsp;US$160.4 million&nbsp;in 2024. This compromised,&nbsp;US$90.2&nbsp;million&nbsp;for share repurchases and&nbsp;US$70.2 million for dividend distributions, representing a total payout ratio of approximately 49.1%.&#8221;
Dividend: The board of directors approved a cash dividend of&nbsp;$0.277&nbsp;per American Depositary Share, up 17% year-over-year, payable on or around&nbsp;May 7, 2025&nbsp;to shareholders <a target="_blank" href="https://www.benzinga.com/pressreleases/25/03/n44367089/finvolution-group-announces-dividend-increase-to-us-0-277-per-american-depositary-share-up-17-year" rel="noreferrer noopener">of record as of&nbsp;April 16, 2025</a>.
Buyback: FinVolution disclosed a new share repurchase program effective March 20, 2025.
Under this program, the company may buy back up to $150 million worth of shares, including <a target="_blank" href="https://www.benzinga.com/pressreleases/25/03/n44367036/finvolution-group-announces-new-share-repurchase-program-up-to-us-150-million" rel="noreferrer noopener">ADSs, through March 19, 2027</a>.
Outlook: The company expects total revenue of around CNY14.4 billion to CNY15.0 billion in 2025, representing <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">growth of about 10.0% to 15.0%</a>.&nbsp;
The company stated that despite ongoing macroeconomic recovery and signs of improvement since early 2024, uncertainties remain in the operating markets. FinVolution remains cautiously optimistic, closely monitoring conditions across Pan-Asian markets.
Going forward, FinVolution targets deriving 50% of its revenue from <a target="_blank" href="https://www.benzinga.com/pressreleases/25/03/n44369675/finvolution-group-reports-strong-growth-and-global-expansion-in-2024" rel="noreferrer noopener">international markets by 2030</a>.
After strong growth in Indonesia and the Philippines, the company is fast-tracking expansion into Pakistan and other markets in 2025.
Price Action: FINV shares are up 12.8% at $10.28 premarket at the last check Tuesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/sports-betting/25/03/44361113/bofa-analyst-highlights-regulatory-clarity-as-key-to-unlocking-potential-of-sports-prediction-market" target="_blank" rel="noreferrer noopener">BofA Analyst Highlights Regulatory Clarity As Key To Unlocking Potential Of Sports Prediction Market</a></li>
</ul>
Image via Shutterstock.

Earnings

Mid Cap

Guidance

Dividends

Buybacks

Movers

FINV

FinVolution Reports Strong Q4, Eyes 50% Revenue From International Markets By 2030 & More

Press Releases

Vertex Global Survey Finds Half of Organizations Lagging in Tax and Finance Automation

Vertex Holiday Shopping Survey Emphasizes the Crucial Role of Tax Automation

Vertex to Present at Wells Fargo 8th Annual TMT Conference

Vertex Named a Leader in the 2024 IDC MarketScape for Worldwide SaaS and Cloud-Enabled Tax Automation Software for Enterprise, SMB and VAT

Vertex Recognized in Built In's Esteemed 2025 Best Places to Work Awards

Vertex to Announce Fourth Quarter 2024 Financial Results on Thursday, February 27, 2025

Comments

Vertex

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