VerticalScope (TSE:FORA) Stock Rating Cut to “Sector Perform” at ATB Cormark Capital Markets

ATB Cormark Capital Markets downgraded shares of VerticalScope (TSE:FORA) from a speculative buy rating to a sector perform rating in a research report report published on Friday,BayStreet reports. They currently have C$3.00 target price on the stock, down from their prior target price of C$5.00.

A number of other brokerages also recently commented on FORA. Raymond James Financial cut their price objective on VerticalScope from C$5.00 to C$4.00 and set an “outperform” rating for the company in a research report on Friday, August 14th. TD reduced their price objective on VerticalScope from C$3.00 to C$2.25 and set a “hold” rating for the company in a research note on Thursday. Finally, National Bank Financial decreased their target price on VerticalScope from C$4.25 to C$3.00 and set a “sector perform” rating on the stock in a report on Thursday. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of C$3.38.

VerticalScope Price Performance

Shares of TSE FORA opened at C$2.18 on Friday. VerticalScope has a twelve month low of C$2.04 and a twelve month high of C$3.49. The company has a current ratio of 1.80, a quick ratio of 0.79 and a debt-to-equity ratio of 47.10. The company has a market capitalization of C$47.60 million, a price-to-earnings ratio of -6.06 and a beta of 0.83. The firm has a 50-day moving average of C$2.77 and a two-hundred day moving average of C$2.79.

VerticalScope (TSE:FORA) last announced its quarterly earnings data on Tuesday, November 10th. The company reported C$0.01 earnings per share (EPS) for the quarter. VerticalScope had a negative net margin of 13.42% and a negative return on equity of 9.82%. The company had revenue of C$18.66 million for the quarter. As a group, analysts expect that VerticalScope will post 0.37 earnings per share for the current fiscal year.

About VerticalScope

Founded in 1999 and headquartered in Toronto, Ontario, VerticalScope is a technology company that has built and operates a cloud-based digital platform for online enthusiast communities in high consumer spending categories. VerticalScope’s mission is to enable people with common interests to connect, explore their passions, and share knowledge about the things they love. Through targeted acquisitions and development, VerticalScope has built a portfolio of over 1,200 online communities and approximately 100 million monthly active users.