Versapay (CVE:VPY) Price Target Increased to C$3.75 by Analysts at Raymond James

Versapay (CVE:VPY) had its price target raised by Raymond James from C$3.30 to C$3.75 in a research report report published on Friday morning, BayStreet.CA reports. Raymond James currently has a strong-buy rating on the stock.

Separately, Eight Capital increased their price target on shares of Versapay from C$2.50 to C$4.00 in a research report on Thursday.

Shares of VPY traded up C$0.05 during midday trading on Friday, hitting C$1.81. The stock had a trading volume of 46,300 shares, compared to its average volume of 70,695. Versapay has a fifty-two week low of C$0.91 and a fifty-two week high of C$2.45. The stock’s 50-day moving average price is C$1.76. The company has a market capitalization of $78.01 million and a price-to-earnings ratio of -5.52. The company has a current ratio of 1.31, a quick ratio of 0.62 and a debt-to-equity ratio of 139.53.

Versapay (CVE:VPY) last posted its quarterly earnings results on Wednesday, May 22nd. The company reported C($0.07) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of C($0.07). The company had revenue of C$1.95 million during the quarter, compared to analysts’ expectations of C$1.74 million. On average, equities analysts anticipate that Versapay will post -0.06 earnings per share for the current year.

About Versapay

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.

Further Reading: Buyback

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