VerticalScope (TSE:FORA) Stock Rating Lowered by CIBC

VerticalScope (TSE:FORA) was downgraded by equities researchers at CIBC from an “outperform” rating to a “neutral” rating in a note issued to investors on Thursday,BayStreet.CA reports. They presently have a C$6.00 price objective on the stock, down from their previous price objective of C$17.00. CIBC’s target price would suggest a potential upside of 23.71% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. National Bankshares lifted their target price on VerticalScope from C$13.00 to C$15.00 and gave the stock an “outperform” rating in a research note on Friday, March 14th. Royal Bank of Canada lifted their price objective on shares of VerticalScope from C$16.00 to C$17.00 in a research report on Thursday, January 30th. TD Securities downgraded shares of VerticalScope from a “buy” rating to a “hold” rating and reduced their target price for the company from C$15.00 to C$6.00 in a research report on Wednesday. Raymond James lowered their price target on shares of VerticalScope from C$14.50 to C$9.00 in a report on Wednesday. Finally, Beacon Securities reduced their price objective on VerticalScope from C$19.50 to C$12.00 and set a “buy” rating for the company in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$12.90.

VerticalScope Price Performance

Shares of TSE FORA opened at C$4.85 on Thursday. The company has a market capitalization of C$76.41 million, a PE ratio of 27.30 and a beta of -0.02. The company has a quick ratio of 0.79, a current ratio of 1.65 and a debt-to-equity ratio of 55.19. The stock’s 50 day moving average price is C$10.60 and its 200-day moving average price is C$9.93. VerticalScope has a twelve month low of C$4.60 and a twelve month high of C$14.75.

Insider Buying and Selling

In related news, Senior Officer Brandon Seibel sold 12,500 shares of the 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 VerticalScope stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of C$12.62, for a total transaction of C$107,270.00. Over the last ninety days, insiders sold 22,250 shares of company stock worth $259,820. Corporate insiders own 37.10% of the company’s stock.

About VerticalScope

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.