VerticalScope (TSE:FORA) Downgraded by ATB Cormark Capital Markets to “Sector Perform”

VerticalScope (TSE:FORA) was downgraded by equities researchers at ATB Cormark Capital Markets from a “speculative buy” rating to a “sector perform” rating in a research note issued on Friday, BayStreet reports. They presently have a C$3.00 price objective on the stock, down from their prior price objective of C$5.00. ATB Cormark Capital Markets‘s price target indicates a potential upside of 37.61% from the company’s current price.

FORA has been the subject of several other research reports. TD lowered their price objective on VerticalScope from C$3.00 to C$2.25 and set a “hold” rating for the company in a research report on Thursday. National Bank Financial cut their target price on shares of VerticalScope from C$4.25 to C$3.00 and set a “sector perform” rating on the stock in a report on Thursday. Finally, Raymond James Financial decreased their target price on shares of VerticalScope from C$5.00 to C$4.00 and set an “outperform” rating on the stock in a research note on Friday, August 14th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of C$3.38.

VerticalScope Trading Up 0.9%

TSE FORA traded up C$0.02 during trading on Friday, hitting C$2.18. 5,810 shares of the company’s stock traded hands, compared to its average volume of 12,514. The stock has a fifty day moving average of C$2.79 and a two-hundred day moving average of C$2.80. VerticalScope has a 12-month low of C$2.04 and a 12-month high of C$3.49. The firm has a market cap of C$47.60 million, a P/E ratio of -6.06 and a beta of 0.83. The company has a debt-to-equity ratio of 46.11, a current ratio of 1.65 and a quick ratio of 0.79.

VerticalScope (TSE:FORA) last released its quarterly earnings data on Tuesday, November 10th. The company reported C$0.01 EPS for the quarter. VerticalScope had a negative return on equity of 10.41% and a negative net margin of 14.06%. The firm had revenue of C$18.66 million for the quarter. As a group, sell-side analysts expect that VerticalScope will post 0.37 EPS for the current year.

VerticalScope Company Profile

Founded in 1999 and headquartered in Toronto, Ontario, 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. Through targeted acquisitions and development, VerticalScope has built a portfolio of over 1,200 online communities and approximately 100 million monthly active users.