CIBC Has Lowered Expectations for VerticalScope (TSE:FORA) Stock Price

VerticalScope (TSE:FORA - Free Report) had its target price trimmed by CIBC from C$6.00 to C$5.00 in a research note issued to investors on Thursday morning,BayStreet.CA reports.

Several other equities research analysts have also recently commented on FORA. TD Securities cut their price target on shares of VerticalScope from C$6.00 to C$4.50 and set a "hold" rating on the stock in a research report on Thursday, May 22nd. Beacon Securities cut their price target on shares of VerticalScope from C$19.50 to C$12.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Canaccord Genuity Group cut 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 research report on Thursday, May 22nd. National Bankshares cut 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 research report on Thursday, May 22nd. Finally, Royal Bank of Canada cut shares of VerticalScope from an "outperform" rating to a "sector perform" rating and cut their price target for the stock from C$9.00 to C$6.00 in a research report on Thursday, May 22nd. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, VerticalScope currently has an average rating of "Hold" and an average price target of C$10.45.

VerticalScope Stock Down 1.9%

TSE FORA traded down C$0.08 on Thursday, reaching C$4.06. The company had a trading volume of 7,795 shares, compared to its average volume of 68,414. The firm has a market capitalization of C$63.97 million, a price-to-earnings ratio of 22.86 and a beta of -0.02. The company has a debt-to-equity ratio of 55.19, a quick ratio of 0.79 and a current ratio of 1.65. VerticalScope has a 1-year low of C$3.97 and a 1-year high of C$14.75. The company's fifty day moving average is C$5.87 and its 200-day moving average is C$9.21.

Insider Transactions at VerticalScope

In other news, Director Rob Laidlaw purchased 61,225 shares of VerticalScope stock in a transaction that occurred on 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. In the last three months, insiders acquired 62,000 shares of company stock worth $303,871. 37.10% of the stock is owned by company insiders.

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.