We recently compiled a list of the 10 Stocks Drop by Double Digits Mostly Due to Disappointing Earnings. In this article, we are going to take a look at where Vertex, Inc. (NASDAQ:VERX) stands against the other stocks.

Wall Street’s main indices suffered a bloodbath on Thursday as overall investor sentiment was weighed down by President Donald Trump’s series of tariffs on goods from other countries.

The Dow Jones dropped by 0.45 percent, while the S&P declined 1.59 percent. Nasdaq, on the other hand, lost 2.78 percent.

On Thursday, Trump threatened to slap EU products with a 25-percent tax, following his announcement on Wednesday of another month of delay for the imposition of taxes on goods from Mexico and Canada.

Ten companies also mirrored wider market pessimism, posting double-digit declines, albeit the drop was predominantly due to dismal earnings performance last year.

To come up with Thursday’s worst performers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.

A finance executive overseeing the implementation of a tax solution.

Vertex, Inc. (NASDAQ:VERX)

Vertex, Inc. (NASDAQ:VERX) nosedived by 18.98 percent on Thursday to finish at $34.54 apiece as investors sold off positions following a disappointing earnings performance last year.

In a statement, Vertex, Inc. (NASDAQ:VERX) swung to a net loss of $68 million in the fourth quarter of 2024 versus $15.3 million in the same period a year earlier, despite revenues growing by 15 percent to $178 million from $154.9 million year-on-year.

The company also widened its net loss by 302 percent in full-year 2024 at $52.7 million versus $13.1 million in 2023, despite full-year revenues growing by 16 percent to $666.8 million from $572 million year-on-year.

For the first quarter of the year, Vertex, Inc. (NASDAQ:VERX) expects revenues to settle between $175 million and $178 million, and between $760 million and $768 million in the full year alone.

Overall VERX ranks 1st on our list of Thursday's worst performers. While we acknowledge the potential of VERX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as VERX but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock

 

Disclosure: None. This article is originally published at Insider Monkey.