Eight Capital Raises Versapay (CVE:VPY) Price Target to C$4.00

Versapay (CVE:VPY) had its price objective upped by Eight Capital from C$2.50 to C$4.00 in a report issued on Thursday morning, BayStreet.CA reports.

Separately, Raymond James set a C$3.30 target price on shares of Versapay and gave the stock a strong-buy rating in a research report on Thursday, May 23rd.

Shares of Versapay stock traded down C$0.01 during mid-day trading on Thursday, hitting C$1.75. 20,550 shares of the stock were exchanged, compared to its average volume of 70,522. Versapay has a 12 month low of C$0.91 and a 12 month high of C$2.45. The firm’s 50-day moving average is C$1.75. The company has a quick ratio of 0.62, a current ratio of 1.31 and a debt-to-equity ratio of 139.53. The stock has a market capitalization of $78.01 million and a P/E ratio of -5.34.

Versapay (CVE:VPY) last posted its earnings results on Wednesday, May 22nd. The company reported C($0.07) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of C($0.07). The firm had revenue of C$1.95 million for the quarter, compared to the consensus estimate of C$1.74 million. On average, research analysts predict that Versapay will post -0.06 EPS for the current fiscal year.

Versapay Company Profile

VersaPay Corporation, a financial technology company, provides cloud-based invoicing, accounts receivable (A/R) management, and payment solutions for businesses in Canada and the United States. The company offers ARC, a business-to-business solution that delivers capabilities in areas, such as invoice presentment, collaboration and collection, electronic payment, cash application, and A/R insight; PayPort, a cloud-based credit card and electronic funds transfer service; and Gateway that allows third party technology partners to connect to PayPort through a secure application program interface and offer the service as part of their own service offering.

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