Vertex price target raised to $61 from $47 at JMP Securities

JMP Securities raised the firm’s price target on Vertex (VERX) to $61 from $47 and keeps an Outperform rating on the shares. The company reported strong Q3 results and guidance was solid, the analyst tells investors in a research note. The firm continues to like Vertex as an opportunity for capital appreciation “for a number of reasons,” saying it has a superior cloud tax solution and is in the early innings of a large opportunity in e-invoicing with ecosio.