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Vertex, Inc. (VERX) provides tax technology solutions for retail, communication, leasing, retail trade, wholesale trade, technology, and manufacturing industries in the United States and internationally. 
It offers tax determination, compliance and reporting, tax data management, document management, analytics and insights, pre-built integration, and industry-specific solutions.
The company sells its software products through software license and software as a service subscriptions. It also provides implementation and training services in connection with its software license and cloud subscriptions, transaction tax returns outsourcing, and other tax-related services.
Shares are on the cusp of breaking out of a bullish "wedge" following its earnings release. On May 19th, VERX reported 1st Quarter March 2023 earnings of $0.05 per share on revenue of $132.8 million. The consensus earnings estimate was $0.08 per share on revenue of $131.9 million. Revenue grew 15.5% on a year-over-year basis.
Guided Higher: The company said it expects second quarter revenue of $135.0 million to $137.0 million and continues to expect 2023 revenue of $550.0 million to $556.0 million. The previous consensus revenue estimate was $134.72 million for the quarter ending June 30, 2023 and revenue of $553.65 million for the year ending December 31, 2023.
Entry Point: $23.00
Trading Range: $9.44 to $23.77
Stop Loss: $21.50
Target Price: $25.30
