TD Securities Issues Pessimistic Forecast for VerticalScope (TSE:FORA) Stock Price

Key Points

• TD Securities has reduced its price target for VerticalScope (TSE:FORA) from C$4.50 to C$4.00, indicating a 16.96% potential upside from the stock's previous close.
• Multiple analysts have issued downgrades for VerticalScope, with Royal Bank of Canada cutting its target from C$9.00 to C$6.00, and Canaccord Genuity lowering theirs from C$10.00 to C$6.00.
• The stock is currently trading at C$3.42, significantly below its 52-week high of C$14.75, with a market capitalization of C$53.88 million.

VerticalScope (TSE:FORA - Get Free Report) had its price target cut by equities researchers at TD Securities from C$4.50 to C$4.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has a "hold" rating on the stock. TD Securities' price target would suggest a potential upside of 16.96% from the stock's previous close.

Other equities analysts also recently issued research reports about the stock. Royal Bank Of Canada downgraded shares of VerticalScope from an "outperform" rating to a "sector perform" rating and lowered their price target for the company from C$9.00 to C$6.00 in a report on Thursday, May 22nd. Canaccord Genuity Group lowered their price target on shares of VerticalScope from C$10.00 to C$6.00 and set a "speculative buy" rating on the stock in a report on Thursday, May 22nd. National Bankshares lowered their price target on shares of VerticalScope from C$9.00 to C$8.00 and set a "sector perform" rating on the stock in a report on Thursday, May 22nd. Finally, CIBC lowered their target price on shares of VerticalScope from C$6.00 to C$5.00 in a report on Thursday, May 22nd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of C$10.15.

VerticalScope Stock Performance

Shares of TSE FORA traded down C$0.08 during trading on Thursday, reaching C$3.42. 170,972 shares of the company traded hands, compared to its average volume of 55,689. The firm has a 50 day simple moving average of C$3.98 and a 200-day simple moving average of C$6.80. 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 has a market capitalization of C$53.88 million, a PE ratio of 19.25 and a beta of -0.02. VerticalScope has a 52-week low of C$3.29 and a 52-week high of C$14.75.

Insider Activity at VerticalScope

In related news, Senior Officer Christopher Michael Goodridge bought 25,000 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was bought at an average cost of C$4.00 per share, for a total transaction of C$100,000.00. 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.

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