Raymond James Forecasts Strong Price Appreciation for VerticalScope (TSE:FORA) Stock

VerticalScope (TSE:FORA) had its price objective boosted by equities research analysts at Raymond James from C$11.50 to C$13.00 in a report released on Wednesday,BayStreet.CA reports. Raymond James’ price objective would indicate a potential upside of 44.44% from the stock’s previous close.

A number of other research firms have also recently weighed in on FORA. TD Securities boosted their price target on VerticalScope from C$15.00 to C$16.00 in a report on Friday, August 9th. CIBC downgraded shares of VerticalScope from an “outperform” rating to a “neutral” rating and cut their target price for the company from C$12.00 to C$9.00 in a research note on Tuesday, October 15th.

VerticalScope Price Performance

Shares of TSE:FORA opened at C$9.00 on Wednesday. The firm has a market capitalization of C$167.58 million, a price-to-earnings ratio of 128.57 and a beta of -0.02. The company has a debt-to-equity ratio of 63.66, a current ratio of 1.80 and a quick ratio of 0.79. The business’s 50 day simple moving average is C$8.27 and its 200-day simple moving average is C$8.67. VerticalScope has a 12 month low of C$4.01 and a 12 month high of C$11.00.

Insider Buying and Selling

In other news, Senior Officer Christopher Michael Goodridge bought 5,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was acquired at an average cost of C$8.54 per share, for a total transaction of C$42,700.00. Also, Director Rob Laidlaw sold 29,500 shares of VerticalScope stock in a transaction on Monday, September 23rd. The stock was sold at an average price of C$9.30, for a total transaction of C$274,350.00. In the last three months, insiders sold 79,900 shares of company stock valued at $727,906. Company insiders own 37.10% of the company’s stock.

About VerticalScope

VerticalScope Holdings Inc, a technology company, operates a cloud-based digital community platform for online enthusiast communities in the United States, Canada, the United Kingdom, and internationally. The company provides digital advertising services comprising direct advertising campaigns serve primarily in original equipment manufacturers, retailers, and insurance providers; programmatic advertising which includes the monetization of display and video impressions, and private marketplace and programmatic guaranteed advertising; and custom content solutions that manages and produces branded content for advertisers, including product reviews, articles, e-mail features, and short videos; and provides e-commerce solutions.