Raymond James Cuts VerticalScope (TSE:FORA) Price Target to C$9.00

VerticalScope (TSE:FORA) had its target price dropped by research analysts at Raymond James from C$14.50 to C$9.00 in a note issued to investors on Wednesday,BayStreet.CA reports. Raymond James’ target price would indicate a potential upside of 74.42% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. CIBC increased their price target on shares of VerticalScope from C$10.00 to C$17.00 in a research report on Monday, February 10th. TD Securities decreased their price target on shares of VerticalScope from C$18.00 to C$15.00 and set a “buy” rating for the company in a research note on Tuesday. Royal Bank of Canada lifted their price target on VerticalScope from C$16.00 to C$17.00 in a research report on Thursday, January 30th. Cormark lifted their price target on shares of VerticalScope from C$14.00 to C$19.00 in a research report on Friday, March 14th. Finally, National Bankshares upped their price objective on shares of VerticalScope from C$13.00 to C$15.00 and gave the stock an “outperform” rating in a report on Friday, March 14th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$14.00.

VerticalScope Price Performance

Shares of VerticalScope stock traded down C$2.45 during trading on Wednesday, hitting C$5.16. 545,078 shares of the stock traded hands, compared to its average volume of 62,120. VerticalScope has a 52 week low of C$4.80 and a 52 week high of C$14.75. The stock has a market cap of C$81.30 million, a price-to-earnings ratio of 29.05 and a beta of -0.02. The firm’s fifty day moving average is C$11.18 and its 200-day moving average is C$10.05. The company has a quick ratio of 0.79, a current ratio of 1.65 and a debt-to-equity ratio of 55.19.

Insider Activity

In other VerticalScope news, Senior Officer Brandon Seibel sold 12,500 shares of the company’s stock in a transaction on Monday, January 20th. The shares were sold at an average price of C$11.00, for a total transaction of C$137,500.00. Also, Director Rob Laidlaw sold 8,500 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of C$12.62, for a total value of C$107,270.00. Insiders sold a total of 22,250 shares of company stock valued at $259,820 in the last three months. 37.10% of the stock is currently owned by corporate insiders.

VerticalScope Company Profile

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.