CIBC Lowers VerticalScope (TSE:FORA) Price Target to C$5.00

VerticalScope (TSE:FORA) had its price objective reduced by CIBC from C$6.00 to C$5.00 in a research report issued on Thursday,BayStreet.CA reports. CIBC’s price target points to a potential upside of 25.00% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Raymond James dropped their target price on shares of VerticalScope from C$14.50 to C$9.00 in a research report on Wednesday, April 9th. National Bankshares lowered their price objective on shares of VerticalScope from C$9.00 to C$8.00 and set a “sector perform” rating for the company in a report on Thursday. Canaccord Genuity Group reduced their target price on VerticalScope from C$10.00 to C$6.00 and set a “speculative buy” rating on the stock in a report on Thursday. Cormark increased their target price on VerticalScope from C$14.00 to C$19.00 in a research report on Friday, March 14th. Finally, Beacon Securities dropped their price target on VerticalScope from C$19.50 to C$12.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Four 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.com, the stock presently has an average rating of “Hold” and a consensus target price of C$10.45.

VerticalScope Stock Performance

Shares of FORA stock opened at C$4.00 on Thursday. The firm has a market capitalization of C$63.02 million, a price-to-earnings ratio of 22.52 and a beta of -0.02. The stock has a fifty day moving average of C$5.98 and a 200 day moving average of C$9.21. VerticalScope has a 52 week low of C$3.97 and a 52 week high of C$14.75. 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 Transactions at VerticalScope

In related news, Director Rob Laidlaw acquired 61,225 shares of the stock in a transaction on Friday, April 11th. The stock was acquired at an average price of C$4.90 per share, for a total transaction of C$300,002.50. Insiders have purchased a total of 62,000 shares of company stock valued at $303,871 in the last ninety days. 37.10% of the stock is currently owned by corporate insiders.

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.