Royal Bank of Canada Has Lowered Expectations for VerticalScope (TSE:FORA) Stock Price

VerticalScope (TSE:FORA - Get Free Report) had its price objective reduced by investment analysts at Royal Bank of Canada from C$10.00 to C$9.00 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank of Canada's target price would suggest a potential upside of 89.08% from the company's previous close.

Several other equities research analysts also recently issued reports on the company. Beacon Securities dropped their price objective on VerticalScope from C$19.50 to C$12.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Canaccord Genuity Group dropped their price target on shares of VerticalScope from C$17.00 to C$10.00 in a research note on Wednesday, April 9th. TD Securities downgraded shares of VerticalScope from a "buy" rating to a "hold" rating and reduced their price objective for the company from C$15.00 to C$6.00 in a research note on Wednesday, April 9th. Raymond James cut their target price on shares of VerticalScope from C$14.50 to C$9.00 in a research note on Wednesday, April 9th. Finally, CIBC downgraded VerticalScope from an "outperform" rating to a "neutral" rating and decreased their price target for the stock from C$17.00 to C$6.00 in a research note on Thursday, April 10th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, VerticalScope presently has an average rating of "Moderate Buy" and a consensus price target of C$12.10.

VerticalScope Stock Up 3.3 %

TSE:FORA traded up C$0.15 on Tuesday, reaching C$4.76. The stock had a trading volume of 16,020 shares, compared to its average volume of 73,600. The company has a 50-day moving average of C$7.98 and a 200 day moving average of C$9.58. The company has a current ratio of 1.65, a quick ratio of 0.79 and a debt-to-equity ratio of 55.19. The stock has a market cap of C$75.00 million, a P/E ratio of 26.80 and a beta of -0.02. VerticalScope has a 12-month low of C$4.50 and a 12-month high of C$14.75.

Insider Buying and Selling

In related news, Director Rob Laidlaw acquired 61,225 shares of the firm's stock in a transaction dated Friday, April 11th. The stock was acquired at an average cost of C$4.90 per share, for a total transaction of C$300,002.50. Insiders have bought a total of 62,000 shares of company stock valued at $303,871 in the last quarter. Company insiders own 37.10% of the company's stock.

VerticalScope Company Profile

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.