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

VerticalScope (TSE:FORA) had its target price increased by investment analysts at CIBC from C$9.00 to C$10.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. CIBC’s target price suggests a potential upside of 10.74% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Raymond James lifted their target price on shares of VerticalScope from C$11.50 to C$13.00 in a research note on Wednesday. Royal Bank of Canada raised their price target on shares of VerticalScope from C$15.00 to C$16.00 in a research note on Thursday. TD Securities upped their price objective on shares of VerticalScope from C$16.00 to C$17.00 and gave the company a “buy” rating in a research note on Thursday. Finally, National Bankshares raised their target price on shares of VerticalScope from C$11.50 to C$13.00 in a research note on Thursday.

VerticalScope Price Performance

VerticalScope stock traded up C$0.14 during midday trading on Thursday, reaching C$9.03. The company had a trading volume of 152,767 shares, compared to its average volume of 23,131. The firm’s fifty day simple moving average is C$8.26 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. The company has a market capitalization of C$168.14 million, a P/E ratio of 129.00 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.

Insider Buying and Selling

In other news, Director Rob Laidlaw sold 50,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of C$9.00, for a total value of C$450,000.00. In other news, Senior Officer Christopher Michael Goodridge bought 5,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were bought at an average price of C$8.54 per share, with a total value of C$42,700.00. Also, Director Rob Laidlaw sold 50,000 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of C$9.00, for a total value of C$450,000.00. Over the last three months, insiders sold 79,900 shares of company stock worth $727,906. Company insiders own 37.10% of the company’s stock.

VerticalScope Company Profile

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.