VerticalScope (TSE:FORA) Given New C$5.50 Price Target at National Bankshares

Key Points

• National Bankshares has lowered its price target for VerticalScope (TSE:FORA) from C$6.50 to C$5.50, indicating a potential upside of 60.82% from the stock's previous close.
• Several other analysts have also downgraded VerticalScope, with the consensus rating now being a "Hold" with a target price of C$10.15.
• VerticalScope's stock price recently fell to C$3.42, representing a 2.3% decrease, with a market capitalization of C$53.88 million.

VerticalScope (TSE:FORA - Get Free Report) had its price objective cut by investment analysts at National Bankshares from C$6.50 to C$5.50 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. National Bankshares' target price indicates a potential upside of 68.71% from the company's previous close.

A number of other research firms have also recently weighed in on FORA. CIBC dropped their price target on VerticalScope from C$6.00 to C$5.00 in a report on Thursday, May 22nd. Canaccord Genuity Group dropped their price target on VerticalScope from C$10.00 to C$6.00 and set a "speculative buy" rating for the company in a report on Thursday, May 22nd. Royal Bank Of Canada cut VerticalScope from an "outperform" rating to a "sector perform" rating and dropped their price target for the company from C$9.00 to C$6.00 in a report on Thursday, May 22nd. Finally, TD Securities dropped their price target on VerticalScope from C$4.50 to C$4.00 and set a "hold" rating for the company in a report on Thursday, August 14th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of C$10.15.

VerticalScope Price Performance

Shares of FORA traded down C$0.04 during mid-day trading on Thursday, reaching C$3.26. The company had a trading volume of 55,051 shares, compared to its average volume of 61,638. VerticalScope has a twelve month low of C$3.15 and a twelve month high of C$14.75. The company has a debt-to-equity ratio of 55.19, a current ratio of 1.65 and a quick ratio of 0.79. The company's 50-day moving average is C$3.91 and its 200-day moving average is C$6.52. The company has a market capitalization of C$51.36 million, a P/E ratio of 18.35 and a beta of -0.02.

Insider Activity at VerticalScope

In other news, Senior Officer Christopher Michael Goodridge bought 25,000 shares of the stock in a transaction dated Thursday, June 5th. The stock was bought at an average cost of C$4.00 per share, with a total value of C$100,000.00. Company 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.